- Exercises 1-6A through 1-9A on p. 33
- Exercises 1-11A and 1-12A on p. 34 and 35
Respond to the following:
- Why is the knowledge of accounting concepts and terminology useful to anyone in a business activity?
- Is there a difference between bookkeeping and accounting? Discuss.
- Accounting reports past performance. How can this be useful when planning future operations?