Homework_1_001 - Student Name: _______________________ BUS...

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Unformatted text preview: Student Name: _______________________ BUS 208 A, B, C or D (circle one ) Fall 2008, AUBG HOMEWORK N. 1 (Chapters 1 and 2) Part I. Questions (15 points) What is one major difference between financial and managerial accounting? _______________________________________________________________________ _______________________________________________________________________ __ What is a business transaction? _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ ___ What does a trial balance prove? _______________________________________________________________________ _ _______________________________________________________________________ _ List one advantage of the corporate form of business entity. _______________________________________________________________________ _______________________________________________________________________ __ What is the textbook definition of assets? _______________________________________________________________________ _______________________________________________________________________ __ 1 Are debits always good for the company? Why or why not? Give an example. _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ ____ What accounting system do publicly traded (listed) European Union companies have to adhere to?...
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Homework_1_001 - Student Name: _______________________ BUS...

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