I Need Help answering these questions

1. Reflect on how accounting impacts your everyday life. Give an example of a time in your life (or the life of a family member or friend) when accounting affected the outcome of a decision. After reading this chapter, would you have made a different decision?

2. In this unit, you learned that the trial balance and balance sheet are not the same. How would you use each one if you owned a business?

3, Imagine that you opened a restaurant. Based on what you have learned in this unit, would you prefer to keep your accounting records on the cash basis or the accrual basis? As part of your response, explain how and why you selected one basis over the other.

4. Think about the different types of financial statements you learned about in this unit (the income statement, statement of retained earnings, balance sheets, and statements of cash flow). If you were an investor, would you place more emphasis on any one particular financial statement? Why, or why not?