READING VERIFICATION FORM- CHAPTER 1
Spiceland and Sepe
1. What are the four types of official pronouncements that the FASB issues?
 
 
 

 
 
 
 

 
 

2. What is the distinction between comparability and consistency?

 
 
 
 
 

 
 

 
 
3. According to Statement of Financial Accounting Concepts No. 5, when should an item be recognized in the financial statements?
 
 
 

 
 
 
 
 

 

 
 
4. What is relevant accounting information? What are its components?
 
 
 

 
 
 
 
 
   

This page is maintained by Dr. Susan Lynn. It was last updated on January 31, 2000.