I will be teaching Financial Management in the fall and feel this is a great review as they generally seem to forget...
I will be teaching Financial Management in the fall and feel this is a great review as they generally seem to forget everything learned in their previous accounting courses.I agree, with the previous comment regarding debits being listed before credits. In practice the debit is always listed first. I selected none of the above for the cost of materials question on the double-entry accounting quiz as I would have put it in some type of inventory account - possibly raw materials. As it should be classified as an asset and expensed when the final product is sold. However, I am quite certain that my students would not pick up on either.Despite the minor issues listed above, I am looking forward to utilizing the review in my course.