Transcription of CHAPTER 1
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CHAPTER 1
1- 1 chapter 1 accounting in ActionASSIGNMENT CLASSIFICATION TABLES tudy whataccounting , 2, the users anduses of , why ethicsis a fundamental generally acceptedaccounting principlesand the cost the monetaryunit assumption andthe economic , 8, 9, the accountingequation, and defineassets, liabilities, andowner s , 12, 131, 2, 3, 45, 6, 7, 111A, 2A4A1B, the effects ofbusiness transactions onthe accounting , 15,16, 185, 6, 7, 86, 7, 8,10, 111A, 2A,4A, 5A1B, 2B,4B, the fourfinancial statementsand how they , 19,20, 219, 109, 12, 13,14, 15, 162A, 3A,4A, 5A2B, 3B,4B, 5B
1. Explain what accounting is. Q1-1 Q1-2 Q1-5 E1-1 2. Identify the users and uses of accounting. Q1-3 Q1-4 E1-2 3. Understand why ethics is a funda- mental business concept. E1-3 4. Explain generally accepted accounting principles and the cost principle. Q1-6 E1-4 5. Explain the monetary unit assumption and the economic entity assumption. Q1-8 ...
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