True and False Questions: 1. Economic interest maximization and risk aversion are two characteristics of an economic man 2. Maslow's theory of the hierarchy of needs believes that man are resourceful evaluator and maximizer 3. Firm is a coalition of economic men. 4. The economic nature of man gives rise to the emerge of accounting

1. The ownership structure of a business includes the following forms: A. Individual, group, corporate. B. Sole proprietorship, partnership, or corporation D. Debtors, creditors, and ownesancia C. Service, manufacturing, and financial. 2. Which of the following is NOT true concerning a sole proprietorship? A. A sole proprietorship is a company

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

1.Lacy Leggs Lingerie had the following petty cash transactions in April of the current year: April 1 Wrote a $500 check, cashed it, and gave the proceeds to Kate Small, the petty cashier. 5 Purchased gift-wrapping paper, $30.30 8 Paid $49.00 COD shipping charges on teddies purchased for resale, terms FOB shipping

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

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

Lesson7 Merchandise Inventories and Cost ofSales Exercise Calculation and Analyzing Problems 1. The perpetual inventory records of LIBY HOUSEHOLD show 150 units of a particular producton hand, acquired at the following dates and costs: Purchase Date Quantity Unit Cost Total Cost

1. What are the possible decisions that can be made with the use of financial analysis? Answer: Share investment decisions. This includes whether to invest in shares and the type of share (common, preferred). Lending decisions. This includes whether to purchase retractable preferred shares, issue mortgages, buy corporate bonds on the open market, operating line of credit

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 8 Accounting Information System Exercise Matching For each numbered item, choose the appropriate journal and write the identifying letter 1. Bought merchandise on account Sales journal 2. Sold merchandise for cash 3. Bought merchandise for cash P Purchases journal 4. Collected accounts receivable and allowed a cash discount 5. Bought store equipment on credit CR Cash receipts journal 6. Recorded accrued wages

Lesson 6 Accounting for Merchandising Activities Exercise Calculation and Analysis Problems 1. OSu Co. is an office-supply store. The company uses a perpetual inventory system, records purchases at net cost, and records sales revenue at full invoice price. Record the following transactions in the company's general journal