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Topic: INTRODUCTION TO ACCOUNTING. QUESTION ONE: State and define the key terms used in Accounting? QUESTION TWO: E xplain the nature and purpose of
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Question

Topic: INTRODUCTION TO ACCOUNTING.QUESTION ONE:State and define the key terms used in Accounting?QUESTION TWO:E

xplain the nature and purpose of accounting?

QUESTION THREE:

Explain the different phases of accounting process?


QUESTION FOUR:

Explain the different branches of accounting?


QUESTION FIVE:

State and explain the different users of financial information?


QUESTION SIX:

What is the general purpose of accounting?


QUESTION SEVEN:

Explain the two main financial statements available to users

a. the statement of financial position

b. the income statement.


QUESTION EIGHT:

explain the four main concepts:


QUESTION NINE:

State and explain the attributes/qualities of a good accounting information?


QUESTION TEN:

Name and explain the role of regulation of accounting profession?

Step-by-step answer

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CHAPTER 1 Q&A.docx
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Subject: Accounting, Business

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