Question: Application Problems Chapter 1 and 2. Complete: Exercises 1-6A through 1-9A on p. 33 Exercises 1-11A and 1-12A on p. 34 and 35 Respond to

Application Problems Chapter 1 and 2.

Complete:

  • Exercises 1-6A through 1-9A on p. 33
  • Exercises 1-11A and 1-12A on p. 34 and 35

Respond to the following:

  1. Why is the knowledge of accounting concepts and terminology useful to anyone in a business activity?
  2. Is there a difference between bookkeeping and accounting? Discuss.
  3. Accounting reports past performance. How can this be useful when planning future operations?

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