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?
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
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
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
Introduction to Accounting Self-Test True and False Questions: 1. Economic interest maximization and risk aversion are two characteristics of an economic man
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
Part I: Fill-In-The-Blanks(10\2=20 points 1. The three common forms of business organizations are 2. The difference between the increases(including the beginning balance)and decreases