Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 5 Completing the Accounting Cycle Self-Test Answer the following questions: 2. what is the purpose of income summary account?

Part I Fill-In-The-Blanks(10\2=20 points) 1.A is a collection of all accounts used by a business 2. All cash payments by check are recorded in thejournal 3. Revenue and expense accounts are called because they are opene

1. Please elaborate the term of efficient market 2. Please elaborate the terms of ethical man, economic man, rational economic man, bounded ationality, REMM 3. According to economic man and REMM, all men are self-interested\potential thieves However, this is conflict with our observations. Please

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

FUNDAMENTALACCOUNTING School of Business, Sun Yat-sen University Lesson5 Completing the Accounting Cycle Exercise Closing entries An adjusted trial balance for Mariposo, Inc., at December 31 appears below. MARIPOSO, INC. Adjusted Trial Balance December 31,2004 Debit Credit Cash

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

1. The following financial statement information is known about five separate proprietorships: Company Company Company Company Company A B C D E December 31, 2001 Assets

University Lesson 11 Understanding Accounting Standards Exercise Short answer questions 1. Please illuminate the demand for theory and give specific examples from your personal experience 2. What is the purpose of accounting theory? Please discuss from both normative theory and positive theory perspectives

Lesson 14 Managerial Accounting II: Applications Exercise 1. XYZ Company's most recent contribution format income statement is presented below: Sales 25000 Less: Variable Expenses $15000 Contribution Margin

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