The fundamental accounting equation is a reflection of the: Money measurement concept

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Financial Accounting Exam 2
1) The fundamental accounting equation is a reflection of the:
Money measurement concept

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Conservatism concept
Dual-aspect concept
Historical cost concept
2)
The historical cost concept reflects the fact that financial accounting practice favors:
   Reliability over relevance
Management’s best guess over historical financial information
Relevance over reliability
Consensus market values over historical financial information
3)
Jon Sports’ inventory account increased from $25,000 on December 31, 2003 to $30,000 on December 31, 2004. Which one of the following items would be included in the operating section of its 2004 indirect method statement of cash flows?
Add increase in inventory $5,000
Subtract increase in inventory ($5,000)
Add inventory balance $20,000
Subtract inventory balance ($20,000)
4)
Turnkey Systems, Inc. began the month of June, 2004 with a prepaid expenses balance of $240,000. During the month, debits totaling $110,000 and credits totaling $80,000 were made to the prepaid expenses account. What was the June, 2004 ending balance of prepaid expenses?

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