1.	Define accounting. Who are the major users of accounting information?

2.	What are the three major business activities in which accountants play a major role? Give an example of each.

3.	What does the term GAAP mean? Briefly explain the roles of the Financial Accounting Standards Board and the Securities and Exchange Commission.

4.	What is double-entry bookkeeping? Give a brief example.

5.	List the four major financial statements. Which financial statements are permanent and which are temporary?