7 accounting questions. Should be answered with a couple of sentences some maybe a little bit longer.

1. What does CPA stand for? What services do CPAs typically provide? 2. Suppose your company sold $25,000 in merchandise to a customer for cash. How does this transaction impact the accounting equation? 3. Opportunity is one of the components of the fraud triangle. How can a company reduce opportunity as a fraud risk? Give an example of how someone could use opportunity to commit fraud and how the company could reduce this risk.(Points : 12) 4. What is vertical analysis of financial statements? How does vertical analysis differ from horizontal analysis? 5. Physical control is a key feature in an internal control system. Why is physical control such an important internal control? Give an example of physical control as an internal control. 6. Describe the statement of cash flows. Why is this statement important to the company, creditors, and investors? 7. Name and describe one liquidity ratio. What does this ratio measure? What is the formula for this ratio