to answer the following questions: 1 What is accounting? How do we use it in our everyday lives? 2 Identify the users and uses of accounting. 3 Explain why ethics are crucial in to accounting. 4 Explain generally accepted accounting principles and define and 5 What is the extended accounting equation? Briefly define all the 6 What are the four basic accounting financial reports? (We have 7 Explain the steps in processing transactions. 8 What is a source document and how is it used? 9 What is an account, and how is it used in a transaction? 10 What is a chart of accounts? 11 What is the general journal? 12 What is the general ledger? 13 Define debits and credits. Explain, briefly, our double entry syste 14 Explain what a trial balance is. 15 What is a compound journal entry