Q1: what are the functions of accounting?Q2: Define, compare, and contrast sole proprietorships, partnerships, and corporations.Q3: How are businesses classified?Q4: How has technology affected the role of the bookkeeper?Q5: List the three elements of the basic accounting equation.Q6: The total of the left-hand side of the accounting equation must equal the total of the right-hand side. True or False? Please explain.Q7: Owner’s equity is subdivided into what categories?Q8: What does an income statement show?
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