Q1: (Magal and Word Textbook 2.1) Explain the differences between financial accounting and management accounting.

Q2: (Magal and Word Textbook 1.2) Explain the key organizational data in financial accounting and the relationships between them.

Q3: (Magal and Word Textbook 1.3) What are charts of accounts and the general ledger?

Q4: (Magal and Word Textbook 1.4) What is an accounting document? What role does it serve?

Q5: (Magal and Word Textbook 2.3) Prepare the T accounts to illustrate the impacts of these purchases on the general ledger for an organization that purchases supplies for $3000 and pays for them via a check

Q6: (Magal and Word Textbook 2.4) An organization sells products to customers as explained below. The customers are sent invoices at a later date, and they make payment for the amount of the invoice. Prepare the T accounts to illustrate the impact of these purchases on the general ledger.

a) Sell products for $3,500 to Customer A

b) Sell product for $3,500 to Customer B