Complete: Exercises 1-6A through 1-9A on p. 33 Exercises 1-11A and 1-12A on p. 34 and 35 Respond to the following: Why is the knowledge of accounting concepts and terminology useful to anyone in a business activity? Is there a difference between bookkeeping and accounting? Discuss. Accounting reports past performance. How can this be useful when planning future operations? Required Text Edmonds, T. P., McNair, F. M., & Olds, P. R. , Milam E. Fundamental Financial Accounting Concepts (8th edition). New York, NY: Mcgraw Hill Higher Education. ISBN: 9780078025365