CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Set A Problems Set B 1. Identify the use and users of accounting and the objective of financial reporting. 1, 2, 3, 4, 5 1, 2 1 1 1 2. Compare different forms of business organizations and explain how Canadian accounting standards apply to these organizations. 6, 7, 8, 9 3, 4, 10 2, 3, 7 2, 5, 2, 5, 11 3. Describe the components of the financial statements and explain the accounting equation. 10, 11, 12, 13, 14 5, 6, 7, 8, 9, 13, 14 3, 4, 5, 6 3, 4, 6, 7, 11 3, 4, 6, 7, 11 4. Determine what events are recognized in the financial statements and how the events are measured. 15, 16 10 7, 8 5, 7, 8, 11 5, 7, 8, 11 5. Analyze the effects of business transactions on the accounting equation. 17, 18 11, 12, 13 9, 10, 11, 12 6, 7, 8,11 6, 7, 8,11 6. Prepare financial statements. 19, 20 14, 15, 16 17, 18 13, 14, 15, 16 7, 8, 9, 10, 11 7, 8, 9, 10, 11