Assignment 2 ACCT 101 Student name: Student ID Total marks for each assignment:
ID: 2426972 • Letter: A
Question
Assignment 2 ACCT 101 Student name: Student ID Total marks for each assignment: 10 marks Note: 10 marks of all 5 assignments (50 marks) are converted into 15 marks at the end of the semester using the following formula: Actual total marks /50 marks 15 marks You are required to work in this assignment individually. Any suspicious activities or cheating will result zero grade in this assignment. Students submitting assignment after deadine will have zero True false questions (2.5 MARKs) I. A company's fiseal year must correspond with the calendar year 2. 4. Adjusting entries are made afier the preparation of financial statements 3. Adjusting entries result in a better matching of revenues and expenses. 4. The revenue recognition principle is the basis for making adjusting entries that pertain to Answer: Answer Answer unearned and accrued revenues Answer: 5. Under the cash basis of accounting, no adjustments are made for prepaid, unearned and accrued items. Answer: Multiple-choice questions (7.5 marks)Explanation / Answer
True/False Question
Answer:1 False
Answer:2 False
Answer:3 True
Answer:4 True
Answer:5 True