• The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
  • Assignments submitted through email will not be accepted.
  • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
  • Students must mention question number clearly in their answer.
  • Late submission will NOT be accepted.
  • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
  • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
  • Submissions without this cover page will NOT be accepted.
    • ((( Ensure that there is no similarity percentage )

Assignment Question(s): (5 Marks)

Q1. Describe four of the accounting principles and assumptions and provide an example for each principle and assumption you describe. (2Marks)

Q2. In this course, we covered journal entries.

  • What is a journal entry? Why is it important? (1Mark)
  • Give two examples of business transactions that require recording a journal entry, and write the journal entry for each transaction. (1Mark)

Q3. What is the difference between accrual basis and cash basis in accounting? Give an example. (1Mark)

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