Luca Pacioli, a Franciscan Friar, is considered to be the"Father of Accounting." Find two internet sources (other thanWikipedia) then answer the following questions:

1. Who was Luca Pacioli? What was his occupation? When and wheredid he live? (Write two or three sentences in your own words. Donot copy directly from sources.)

2. When did Pacioli first write about the rules of accounting?What was the name of the publication? (One to two completesentences.)

3. Pacioli is thought to be the first person to document "doubleentry" accounting. Why is it called double entry accounting? Howdoes it work? (Explain the mechanics of the system.) Why is it aneffective tool for accountants? (Three to four sentences.)

4. Finally, why are debits abbreviated as "DR" and creditsabbreviated "CR"? (There are several theories about this one.Research and then choose your favorite. Two to threesentences.)

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