The objectives and assessment of Record management

As you all must have now gone through my 5 beautiful slides of chapter-Record management. 
I am now giving you the objectives of this chapter. The terminal learning objective is 
With knowledge of record management, a student should know how to maintain proper records about his expenses and incomes which are as per accounting and taxation standards.
The enabling objectives to achieve this objective are: 
1)     Maintaining income and expense account

2)     Knowledge of accounting standards

3)     Creation of balance sheet
 4)     Filing returns 
I have also designed an assessment based on Bloom's taxonomy for this the topic: maintaining income and expense account. A student should be able to do this assessment after going through my slides.

   Maintaining income and expense account-Assessment
The student should know about the creation and maintenance of records.

Knowledge
What is an income and expense account? State its purpose.

Comprehension
Describe in your own words how to create an income and expense account.


List all the items which are included on the expenses side of a P/L A/C.

Application
 Given some expense entries, create an income and expense account for a company named XYZ.

 Analysis
Why do gross profit/gross loss occur.

Synthesis
Write the steps for making an income and expense account.

Evaluation
Is the income and expense account the best way to maintain expenses? Can human errors in recording entries be prevented?



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