1. Define the accounting function of a business.
   • Why is accounting such an important function in business?
   • How might a company use accounting to understand its own financial strengths and weaknesses?
2. Define the Finance function of a business.
   • Why is Finance an important function in business?
   • How might a company use finance to decide whether or not to undertake future projects?
   • What is the difference between short-term financing and long-term financing?
3. Assume that members of Bill family form a corporation called Accounting Software, Inc. (ASI). On December 1, 2013, several members of Bill family invest a total of $10,000 to start ASI. In exchange, the corporation issues a total of 1,000 shares of common stock. What is the effect on the corporations accounting equation? Explain your answer.

Requirements:

• Minimum Page Length 2 full pages (excluding title/header and reference list); 12-point Times New Roman; double spaced; and page numbering.
• Please be sure to answer the entire question to receive maximum credit for this task.
• Use and include information from the weekly course content and outside sources to support the conclusions contained in the paper.
• Be cognizant of spelling, punctuation, and grammar.