Accounting Questions:

1. What is the purpose of the double-entry accounting system?
2. Explain the difference between accrual accounting and cash basis accounting.
3. How does depreciation impact financial statements?
4. What are the key components of a balance sheet?
5. Describe the concept of goodwill in accounting.
6. How does the matching principle guide revenue recognition in accounting?
7. What is the significance of the trial balance in the accounting process?
8. How do you calculate the debt-to-equity ratio for a company?
9. What is the role of auditors in financial reporting?
10. Explain how inventory valuation methods like FIFO and LIFO affect financial statements.