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ACCT 2301.02 Principles of Financial Accounting

ACCT 2301.02 Principles of Financial Accounting - A True B...

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Q.1 ) Ethics are not important to the primary functions of accounting. A . True B . False Q.2 ) The business entity principle prescribes that a business will continue operating for an indefinite period of time. A . True B . False Q.3 ) Preparation of a trial balance is the first step in the analyzing and recording process.
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Unformatted text preview: A . True B . False Q.4 ) Adjusting entries result in a better matching of revenues and expenses. A . True B . False Q.5 ) Adjusting entries are made after the preparation of financial statements. A . True B . False...
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