Participation Questions Chapter 2

  • Due Sep 20, 2015 at 11:59pm
  • Points 7
  • Questions 5
  • Available Aug 31, 2015 at 1pm - Sep 20, 2015 at 11:59pm
  • Time Limit None

Instructions

Please wait until the chapter has been fully covered to answer the participation questions.

You only have 1 attempt for the participation questions. 

Questions:

  1. Why are there Accounting Principles and Rules, such as GAAP, to guide modern financial accounting and the preparation of financial statements in North America?
  2. What is the actual origin of the terms debit and credit?
  3. What does CPA stand for?
  4. What was the name of the Company used for the final in-lecture problem at the very end of class where we assembled a trial balance?
  5. What is the minimum number of entries for each transaction in double entry accounting?
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