What is the accounting equation? What are the formulas for the balance sheet and the incomestatement? Can you name & define the components (account groups) and sub-groups of each?Given 2 amounts from either statement, can you calculate the missing amount?

What are the 4 ways a company can raise cash? Which of them is the most important for the long-term viability of the company?What is an account? Given the name of some common accounts, can you tell whether it is an asset,liability, equity, revenue, or expense account?

What is GAAP? The cost principle? The matching principle? The going concern principle?

What time frame is generally covered by financial accounting? (past, present or future)Contrast cash basis and accrual basis accounting. What is a fiscal year?