1. What are
the primary purposes of an accounting system?
2. Universal
use of standard accounts and terminology of the 1957 Handbook accomplishes
several tasks. List four positive results of this universal use.
3. Briefly
define the following:List the three functions of financial reporting.
a. Clearing
accounts
b. Encumbrance
accounting
c. Cost
accounting
d. Accrual
accounting
4. List the
three functions of financial reporting.
5. What are
the two central elements required in cost reporting?
List the four major parts of a school district budget.
Categories: