Assignment # 1:
GAAP (generally accepted accounting principles) is a collection of commonly-followed accounting rules and standards for financial reporting. The acronym is pronounced “gap.” (http://whatis.techtarget.com/definition/GAAP-generally-accepted-accounting-principles)
In a well-thought essay, (see rubric for grading criteria) explain what GAAP (generally accepted accounting principles) is in detail and why it should be followed. Make sure you cite your sources. Print it out and attach the rubric.
Assignment # 2:
Ethics is a term that refers to a code or moral system that provides criteria for evaluating right and wrong. An ethical dilemma is a situation in which an individual or group is faced with a decision that tests this code. Many of these dilemmas are simple to recognize and resolve. For example, have you ever been tempted to ask your professor for an extension on the due date of an assignment by claiming a fictitious illness? Temptation like this will test your personal ethics.
Assignment # 3:
Comparison of Accounting Functions between a Sole Proprietorship and Merchandiser Business
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