Chapter $1$

Why is there a need for accounting information in the business world? Name three groups that require business. accounting data and describe how the data is used.

Why are ethics so important in accounting and to business owners and managers? Give an example of unethical behavior of an accountant and describe the consequences.

Chapter $2$

If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have debit balances?

Discuss the steps in processing business transactions.