Post a 100-200-word response to the following:
- What are some methods you might use to determine the reliability of data you gather? Why is it important to analyze your data to determine if it is reliable?
- Chapters 5 & 6 of Critical Thinking cover fallacies and rhetoric. According to the text, what are two examples of persuasion that are not valid arguments? Why are these invalid arguments?
Post a 150-200 – word response for each of the following (bulleted) questions:
- What are accruals? Provide examples of accruals. Why do accruals require adjusting entries?
- What types of accounts are debited and credited in an unearned revenue adjusting entry?
- With the Revenue Recognition Principle, How is the balance sheet affected?
- Name a circumstance when Cash Basis Accounting would be appropriate?
- What are deferrals? What are some examples of deferrals? Why do deferrals require adjusting entries?
- What is the revenue recognition principle? What is the expense recognition principle? Why are these important to financial reporting?