Learning Objectives 1. Identify the use and users of accounting and the objective of financial reporting. 2. Compare the different forms of business organization. 3. Explain the building blocks of accounting: ethics and the concepts included in the conceptual framework. 4. Describe the components of the financial statements and explain the accounting equation. 5. Analyze the effects of business transactions on the accounting equation. 6. Prepare financial statements. Accounting Principles 8th Canadian Edition (Volume 1) Jerry Weygandt, Donald Kieso, Paul Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak (Solutions Manual All Chapters, 100% Original Verified, A+ Grade) (Chapter 1-10) CHAPTER 1 Accounting in Action Solutions Manual 1.1 Chapter 1 . Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition Summary of Questions by Learning Objectives and Bloom’s Taxonomy Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT Questions 1. 1 C 5. 3 C 9. 3 C 13. 4 K 17. 5 C 2. 1 C 6. 3 K 10. 3 C 14. 4 K 18. 5 AP 3. 1 C 7. 3 K 11. 3 C 15. 4 C 19. 6 K 4. 2 K 8. 3 C 12. 4 K 16. 4 K 20. 6 C Brief Exercises 1. 1 K 5. 3 C 9. 4 AP 13. 5 AP 17. 6 AP 2. 2 C 6. 3 C 10. 4 AP 14. 4,5 AP 18. 6 AP 3. 3 AN 7. 4 C 11. 4 K 15. 4,6 AP 4. 3 C 8. 4 AP 12. 5 AP 16. 6 AP Exercises 1. 1 C 5. 1,3,5 K 9. 3,5,6 C 13. 4,5 AP 17. 6 AP 2. 1 C 6. 4 AP 10. 5 C 14. 6 AP 3. 2 C 7. 4 AP 11. 5 C 15. 6 AP 4. 3 C 8. 5 C 12. 4,5 AP 16. 6 AP Problems 1. 1 S 4. 4 AP 7. 3,4,5,6 AP 10. 6 AN 2. 2,3 AP 5. 3,5 C 8. 4,5,6 AP 11. 3,4,5,6 AP 3. 4 AP 6. 4,6 AP 9. 6 AP