Unit III(200 words no references needed)
Imagine that you opened a restaurant. Based on what you have learned in this unit, would you prefer to keep your accounting records on the cash basis or the accrual basis? As part of your response, explain how and why you selected one basis over the other.
Unit IV(200 words no references needed)
Think about the different types of financial statements you learned about in this unit (the income statement, statement of retained earnings, balance sheets, and statements of cash flow). If you were an investor, would you place more emphasis on any one particular financial statement? Why, or why not?