11. Questions Directions: Answer each of the following questions in the space provided 1. What is the definition of accounting? What is the name of the occupation of a person who summarizes detailed accounting information, then analyzes and interprets the information to assist owners and managers in making financial decisions? 3. What is a business? 4. What is an MIS? 5. State the accounting equation. 6. What is an account classification? 7. What is a double-entry accounting system? What is the purpose of the Explore Accounting System