ACC 225 Week 1 Discussion Questions

This document of ACC 225 Week 1 Discussion Questions shows the solutions to the following problems:

DQ 1: Talk to a family member or friend regarding his/her work environment. Is his/her company a sole proprietorship, partnership, or corporation? Who is associated with the accounting judgments and information? In what ways is your family member or friend influenced by the accounting information?DQ 2: Explain one of the four fundamental fiscal statements, and reply the following queries.- For what is it usually used?- What information is the most important?- How does it complement one other fiscal statement?