Week 1 Check Your Knowledge Questions/Answers

#
1

Question

Answer

1.

2.

1.

2.

(Unearned
Subscriptions)

3. ()

(Unearned Subscriptions)

3. ()

500

500

(Miscellaneous Expense)

(Miscellaneous Expense)

2014 Laureate Education, Inc.

Page 1 of 9

Question

Answer

4.

15

200,000

4.

15

200,000

3,000,000

3,000,000
200,000

200,000

.. ()

..

()

.. ()

2014 Laureate Education, Inc.

Page 2 of 9

Question

Answer
1. (Monetary
unit assumption)

2.

(Business entity assumption)

3.

(Objectivity assumption)
4.(Periodicity
assumption)

5.(GoingConcern assumption)

6.(Cost assumption)

7.(Revenue
Realization assumption)

8.
(Matching assumption)

9.(Accrual assumption)
10.(Consistency
assumption)

11.(Conservation
assumption)
4

3 1.

()

2014 Laureate Education, Inc.

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Question

Answer
2.

3.

3
1.

2.

2014 Laureate Education, Inc.

Page 4 of 9

Question

Answer
3.

(Assets)

(Liabilities)

(Shareholder's Equity)

2014 Laureate Education, Inc.

Page 5 of 9

Question

Answer

= +

2014 Laureate Education, Inc.

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#
8

Question

Answer

1.

2.

3.

4.

5.

6.

1. 2

2014 Laureate Education, Inc.

Page 7 of 9

Question

Answer

2.

3.

4.

5.

6.

25% 250,000
1,000,000

1
0

2014 Laureate Education, Inc.

Page 8 of 9

 2014 Laureate Education, Inc.

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