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CHAPTER 7
Accounting Principles
ASSIGNMENT CLASSIFICATIONTABLE
Brief A B
Study Objectives Questions Exercises Exercises Problems Problems
1. 1,2 1,2
Explainthe meaning of
generally accepted
accounting principles and
identify the key items of
the conceptual
framework.
2. Describe the basic 3 3
objectives of financial
reporting.
3. Discuss the qualitative 3,4,5 4,5,6
characteristics of
accounting information
and elements of financial
statements.
4. Identify the basic 6 7 1,2,3 1A,2A,3A 1B,2B,3B
assumptions used by
accountants.
5. Identify the basic princi- 7,8,9, 10, 7 1,2,3,4 1A,2A,3A 1B,2B,3B
ples of accounting. 12
6. Identify the two con- 11 7,8 1,2,3 3A 3B
straints in accounting.
7. Understand and analyze 13, 14, 15, 9, 10, 11 5,6,7,8, 4A,5A 4B,5B
classified financial 16 9
statements.
8. Explain the accounting 17, 18 10
principles used in inter-
national operations.
7-1
ASSIGNMENT CHARACTERISTICS TABLE
Problem Difficulty Time
Number Descri
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