Question: There will be two discussion questions listed below. By due date assigned, respond to one of the discussion questions and submit your response to the
There will be two discussion questions listed below. By due date assigned, respond to one of the discussion questions and submit your response to the Discussion Area below, using the lessons and vocabulary found in the reading. Support your answers with examples and research and cite your sources using the APA format. Discussion Question One: You are forming a business with a couple of construction friends who want to build custom homes. They are good at construction, but do not know anything about accounting. Using the example of the construction in the PBS tv show "This Old House": Explain for your new business associates how you would do the accounting for this type of business. Using proper terminology and accounting concepts, give a general explanation of the different types of costs involved and make up some sample transactions to record what you see on the tv show. You can assume the costs amounts and identify anything else you are assuming in order to record the transaction. What other transactions and costs need to be recorded that you do not directly see on the tv show! Discussion Question Two: There will be two discussion questions listed below. By due date assigned, respond to one of the discussion questions and submit your response to the Discussion Area below, using the lessons and vocabulary found in the reading. Support your answers with examples and research and cite your sources using the APA format. Discussion Question One: You are forming a business with a couple of construction friends who want to build custom homes. They are good at construction, but do not know anything about accounting. Using the example of the construction in the PBS tv show "This Old House": Explain for your new business associates how you would do the accounting for this type of business. Using proper terminology and accounting concepts, give a general explanation of the different types of costs involved and make up some sample transactions to record what you see on the tv show. You can assume the costs amounts and identify anything else you are assuming in order to record the transaction. What other transactions and costs need to be recorded that you do not directly see on the tv show! Discussion Question Two
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