(PLEASE TYPE THE ANSWERS) Chapter 1 Introduction to Accounting and Business Describe the types and forms of...

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Finance

(PLEASE TYPE THE ANSWERS)
Chapter 1 Introduction to Accounting and Business
Describe the types and forms of businesses, how businesses makemoney, and business stakeholders.
Describe the three business activities of financing, investing, andoperating.
Define accounting and describe its role in business.
Describe and illustrate the basic financial statements and how theyinterrelate.
Describe eight accounting concepts underlying financialreporting
.
Chapter 2 Analyzing Transactions
Describe the basic elements of a financial accounting informationsystem.
How do you analyze, record, and summarize transactions for acorporation’s first period of operations?
How do you prepare financial statements for a corporation’s firstperiod of operations?
How do you analyze, record, and summarize transactions for acorporation’s second period of operations?
How do you prepare financial statements for a corporation’s secondperiod of operations?
.
Chapter 3 The Adjusting Process
Describe basic accrual accounting concepts, including the matchingconcept.
How do you use accrual concepts to analyze, record, and summarizetransactions?
Describe and illustrate the end-of-period adjustment process.
How do you prepare financial statements using accrual concepts ofaccounting, including a classified balance sheet?
Describe how the accrual basis of accounting enhances theinterpretation of financial statements.

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Answers Chapter 1 1 Answer The three types of businesses worked revenue driven incorporate assembling marketing and administration businesses Such businesses might be sorted out as ownerships associations enterprises and constrained risk businesses A business may make benefits by picking up a preferred position over its rivals utilizing a minimal effort or a See Answer

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(PLEASE TYPE THE ANSWERS)Chapter 1 Introduction to Accounting and BusinessDescribe the types and forms of businesses, how businesses makemoney, and business stakeholders.Describe the three business activities of financing, investing, andoperating.Define accounting and describe its role in business.Describe and illustrate the basic financial statements and how theyinterrelate.Describe eight accounting concepts underlying financialreporting.Chapter 2 Analyzing TransactionsDescribe the basic elements of a financial accounting informationsystem.How do you analyze, record, and summarize transactions for acorporation’s first period of operations?How do you prepare financial statements for a corporation’s firstperiod of operations?How do you analyze, record, and summarize transactions for acorporation’s second period of operations?How do you prepare financial statements for a corporation’s secondperiod of operations?.Chapter 3 The Adjusting ProcessDescribe basic accrual accounting concepts, including the matchingconcept.How do you use accrual concepts to analyze, record, and summarizetransactions?Describe and illustrate the end-of-period adjustment process.How do you prepare financial statements using accrual concepts ofaccounting, including a classified balance sheet?Describe how the accrual basis of accounting enhances theinterpretation of financial statements.