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EXTRA CREDIT QUESTION (10 POINTS) Complete the template for the expanded accounting equation below: Write in the classification of each T account. 2. Fill in

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EXTRA CREDIT QUESTION (10 POINTS) Complete the template for the expanded accounting equation below: Write in the classification of each T account. 2. Fill in the boxes to indicate whether each T account is added or subtracted. . Use the and -signs to indicate whether the debit or the credit increases () or decreases -) the acco Dr. Cr Dr. Cr Dr. Cr. Dr. Cr. MULTIPLE CHOICE (60 POINTS). Choose the best answer of the options provided. Record your answers with a #2 pencil on the Scantron form. Only answers recorded with a #2 pencil will count. 1) Unearned revenue is classified as what type of account? A) Revenue C) Prepaid Expense B) Expense D) Liability 2) A post-closing trial balance reports: A) All temporary and permanent ledger accounts with balances. B) Only revenue and expense accounts. C) Only asset accounts D) All permanent ledger accounts with balances. 3) The private-sector group that currently has the authority to establish generally accepted accounting principles (GAAP) in the United States is the A) AAA B) AICPA C) APB D) FASB 4) Depreciation: A) Is an outflow of cash from the use of a plant asset. B) Is the process of allocating the cost of a plant asset to expense. C) Is applied to land. D) Only applies to intangible assets. 5) The principles of internal control include: A) Use only computerized systems

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