All 12 theories are examinable for both G2 and G3 students: Accounting entity, Accounting period, Accrual basis of accounting, Consistency, Going concern, Historical cost, Matching, Materiality, Monetary theory, Objectivity, Prudence, Revenue recognition theory.
For every theory question: name the theory, then explain it in the context of the scenario — never copy the definition without applying it.
The most commonly tested are: Accounting entity, Prudence, Matching, and Accrual basis of accounting.