ACC 122/ Answer the Following Questions: 1. Discuss the accounting treatment for capital additions versus repairs and maintenance. 2. Discuss bond discounts and bond premiums. 3. Discuss the effect LIFO will have on your income statement and balance sheet during periods of inflation. Discuss why the percentage of Accounts Receivable method is considered a balance sheet focused method and the percentage of credit sales method is considered an income statement 4. focused method. 5. Discuss the following accounting principles: Going Concern Matching Principle Monetary Unit Assumption Full Disclosure Principle Time Period Assumption Revenue Recognition Principle Matching Principle Cost Principle Relevance, Reliability and Consistency. Principle of Conservatism Materiality Principle. 6. Discuss the Sarbanes- Oxley Act. 7. Discuss the Public Companies Accounting Oversight Board. 8. Discuss the Financial Accounting Principles Board and Generally Accepted Accounting Principles. 9. Discuss The Security and Exchange Commission 10. Discuss International Financial Reporting Standards