1.What are the three stages of accounting cycle?

2.What does timing mean in transaction analysis?

3.What is the valuation of transaction analysis?

4.What does it called when transaction is formally entering data into the accounting books?

5.What are the two requirements for the recording of transaction?

6.What is the ultimate goal of the entire accounting process?

7.What is financial condition?

8.What is the accounting equation for a proprietorship?

9.What is the accounting equation for a corporation?

10.What are the four basic business economic entities?