Please discuss the following:

1.Why is accounting often referred to as the language of business?

2.What is globalization? To your mind, what benefits will it bring you?

3.To your mind, why is business ethics important? Cite some ethical dilemmas.

4.What are the three forms of business organization? Define each briefly.

5.What are the MSMEs? What purposes does it serve for economic development?

6.Why has a recording system, the double-entry, devised in medieval times lasted for so long?

7.Discuss the criteria for general acceptance of an accounting principle.

8.What does the term generally accepted accounting principles mean?

9.What is meant by the concept of stable monetary unit? Is this assumption realistic? Why is it used in accounting?

10.What is the periodicity concept? Why is it important for business entities to provide periodic information?

11.What is materiality?