1. Explain the Revenue Recognition and Expense Recognition rules with some transaction examples.

2. Explain the Matching Principles between revenues and expenses with some transaction examples.

3. Compare Accrual and Deferral accounting for Revenue Recognition with some transaction examples.

4. Explain the discount term of 2/10 net 30 in business transaction. Why does a seller offer the term?

5. Explain business transaction for Sales Discount and how to record it in journal entry with examples.

6. Explain business transaction for Sales Return and how to record it along with Return Allowance in journal entry with examples.

7. Explain Allowance for Uncollectible AR account with some examples. Also explain how to record it along with Bad Debt Expense in journal entry.

8. Explain and Compare the following Allowance Methods for Uncollectible Accounts Receivable under GAAP.

a. Percentage of Sales Method (I/S approach)

b. Percentage of Accounts Receivable at Yearend Method (B/S approach)

c. Aging Receivables Method (B/S approach)

9. [Financial Statement Analysis] Explain how to make Vertical Analysis of B/S and I/S and how to interpret the accounts using the Vertical Analysis.

10. [Financial Statement Analysis] Explain how to make Horizontal Analysis of B/S and I/S and how to interpret the accounts using the Horizontal Analysis.