Part I: Fill-In-The-Blanks(10\2=20 points) 1. The branch of accounting which aims at serving external users is called accounting 2. A credit entry decreases asset and accounts or increases liabi owner's equity, and revenue accounts
hool of Business, Sun Y at-sen University L 2 Economic Transactions and Accounting Equation Self-Test Multiple choices 1. The ownership structure of a business includes the following forms
ask Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University L 3 Analyzing and recording Accounting transactions Self-Test Multiple choices 1. The term credit means. A. to increase
Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 4 Adjusting Accounts for Financial Statement Self-Test Answer the following questions 1. what is an accrued revenue? Give an example 2. what is the difference between the cash basis and accrual basis of
Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson 6 Accounting for Merchandising Activities Self-Test L. True and False Questions The income statement of a wholesaler includes a deduction from revenue representing the cost
Task Team of FUNDAMENTAL ACCoUntIng School of Business Sun Yat-sen Universit Lesson 8 Accounting Information System Self-Test In the following choice, which is not the principle of accounting sytems? A. Cost-effective bal C. Internal control B. Effective reporting
ask Team of FUNDAMENTAL aCcoUnting School of Business Sun Yat-sen Universit Lesson 10 Understanding and Using financial Statements What type of analysis is indicated by the following? Percent Current assets
Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Understanding Accounting Standards es True and False Questions 1. Accounting standards are laws accountants should follow in their work