Form teams of two persons each. Each person should make a list of ten account names, with
Question:
Form teams of two persons each.
Each person should make a list of ten account names, with approximately half
being income statement accounts and half being balance sheet accounts. Give the
list to the other member of the team, who is to write beside each account name
the financial statement (I for income statement or B for balance sheet) on which
it belongs. If there are errors or disagreements in classification, discuss the account
and come to an agreement about which financial statement it belongs to.
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Related Book For
Management Accounting
ISBN: 9780367506896
5th Canadian Edition
Authors: Charles T Horngren, Gary L Sundem, William O Stratton, Howard D Teall, George Gekas
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