Week 1 Questions – Accounting, Identify the forms of business organization and the uses of accounting information.

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Answer each question below min 100 words each question. APA format. When writing it, please use headings so I know the questions being answered.

Chapter 1:

  1. Identify the forms of business organization and the uses of accounting information.
  2. Explain the 3 principal types of business activity.
  3. Describe the four financial statements and how they are prepared

Chapter 2:

4. What are the key accounting assumptions identified in this chapter?

5. What impact do these key accounting assumptions have on financial statement reporting?

6. Identify the sections of a classified balance sheet.

7. Discuss financial reporting concepts.

Reference:

Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016). Accounting: Tools for Business Decision Making (6th ed.). Hoboken, NJ: John Wiley & Sons.

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