User:Bkabuatioer/Accounting Concepts/Learning Challenge

Complete the followings Exercises

At the completion of the following exercises successfully, is an indication of successfully completing AOL1. Congratulations!

Reflection item 1

Choose the best concepts terms to fill in the spaces

Complete the missing words by filling in the correct 'concepts terms

• Accounting Concepts is Rules of Standard whereby Accountants are guided to prepare FinancialStatements
• When a business operates with the idea of future continuity, this is called Continuity Concepts
• Where the Business life span is divided into equal periods of time, this is called Accounting period
• Where there is one standard measurement in all of the Business economic value, this is called Monetary Concepts

Reflection item 2

Select the best Accounting term

Compelete the following by filling in the missing words

• Accounting Entity is one example of the AccountingConcepts
• A simple way to understand Accounting Concepts, is to define Accounting Concepts as Standard Rules

Multiple Choice Exercise

Multiple choice question

Study the list and select the examples of 'Accounting Concepts

• Select all that applies to examples of Accounting Concepts ????
  • Continuity Concepts
    • correct. Well done
  • Accounting Entity
    • Correct. Well done
  • Accounting Period
    • Correct. Well done
  • Historical Cost
    • Correct. Well done

Drill Exercise on H5P

H5P exercise

This exercise is an extra drill (not related to the course, however, develops your accounting concepts) using H5P content. Please Enjoy!

H5P Object Parameters

The H5P parameters below will be replaced by the actual H5P object when it's rendered on the WordPress site to which it's been snapshotted.

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https://edt4ol.oerfoundation.org

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