Participation Questions Chapter 2

Please wait until the chapter has been fully covered in class to answer all of the participation questions in Webcourses. 

Instructions:

What: After class is 100% completed for each chapter, you will be asked to answer 5 questions that pertain to the class materials (not necessarily from the textbook, but based on the class viewed live or via video). The questions are available for approximately one week after each chapter is completed. Although your ability to answer the questions in Webcourses is limited in time, the class videos will remain available in Webcourses throughout the semester. Please wait until the chapter has been fully covered to answer all of the participation questions in Webcourses.

Questions:

• • Why are there Accounting Principles and Rules, such as GAAP, to guide modern financial accounting and the preparation of financial statements in North America?
  • What is the actual origin of the terms debit and credit?
  • What does CPA stand for?
  • 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?
  • What is the minimum number of entries for each transaction in double entry accounting?

Why: The participation questions are designed to make sure you are engaging with the course materials on a timely and consistent basis.  

Evaluation: You have only 1 attempt for the participation questions.