Q1: what are the functions of accounting?

Q2: Define, compare, and contrast sole proprietorships, partnerships, and corporations.

Q3: How are businesses classified?

Q4: How has technology affected the role of the bookkeeper?

Q5: List the three elements of the basic accounting equation.

Q6: The total of the left-hand side of the accounting equation must equal the total of the right-hand side. True or False? Please explain.

Q7: Owner's equity is subdivided into what categories?

Q8: What does an income statement show?