Principles and Concepts
Revenues are recognized when earned, not when cash is received
What is the Revenue Recognition Principle
AAA stands for..
American Accounting Association
This professor dances in her free time
Who is Dr. Honn
This building is the hub of UCM. It features many restaurants and a bowling alley.
Where is Elliot Student Union
This famous search engine's name originated from a misspelling
What is Google
Expenses related to revenues should be recognized in the same period revenue is recognized
What is the Matching Concept/Matching Principle
This accounting firm was once one of the "Big Five", but was dropped after the Enron scandal
Who is Arthur Anderson
Baking is this professor's special talent
Who is Dr. Bailey
The official name of the building where weddings and worship occur
What is The Alumni Memorial Chapel
For every human on Earth, there are 1.6 Billion of these little bugs
What are ants
Influences decision makers in determining if certain information should be kept from investors if the amount in question is too small to make a difference
What is Materiality Concept
Federal accountant, Frank J. Wilson, took down this famous mobster.
Who is Al Capone
This professor knows how to play the trumpet
Who is Dr. Anderson
Rumor has it that if UCM graduates kiss this statue, they will have a future full of success.
What is the Bronze Mule near the football field
This agency reads 5 million tweets a day
Who is the CIA
Assets should be recorded at cash amount (or equivalent) at time of purchase, not resell amount.
What is Cost Principle/ Historic Cost Principle
The oldest academic building on campus
Where is Dockery
This famous author became a billionaire by writing books, but lost her billionaire status by donating to charity
Who is J.K. Rowling
Accounting information and financial reporting should be independent and supported with unbiased evidence
What is Objectivity Principle
This fish evaporates in the sun
What is a jellyfish