is the basic accounting equation and how does it represent the relationship between assets, liabilities, and equity? 2. What is the difference between accrual accounting and cash accounting? 3. What are the various financial statements and what information do they provide? 4. How are revenues and expenses recorded in the income statement? 5. What is the purpose of a balance sheet and what does it include? 6. What is the difference between gross profit and net profit? 7. What are the different types of financial ratios and how are they used to analyze a company's financial performance? 8. How are assets and liabilities classified in a company's balance sheet? 9. What is the role of depreciation in accounting? 10. What are the accounting principles and guidelines that companies follow in preparing their financial statements? 11. How is the statement of cash flows prepared and what does it reveal about a company's cash flow activities?