1. What is thefundamentalrule of the balance sheet?

2. What is an asset, a liability, owners equity?

3. How are entries carried on the balance sheet and why?

4. What is the accounting equation and why is it important?

5. What is depreciation and why is it different on the balance sheet?

6. Does the basic structure of a balance sheet differ by type of business, why or why not?

7. Do the details on the balance sheet differ by type of business, why or why not?

8. How is the balance sheet different for a retail business?

9. How is the balance sheet different for a manufacturing business?

10. How is the balance sheet different for a service business?