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ACC 290 Week 1 Discussion Questions and Responses

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Jul 27th, 2014
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  1. ACC 290 Week 1 Discussion Questions and Responses
  2. www.paperscholar.com
  3. DIRECT LINK TO THIS STUDY GUIDE:
  4. http://www.paperscholar.com/acc-290-week-1-discussion-questions-and-responses/
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  9. DESCRIPTION FOR THIS STUDY GUIDE:
  10. All discussion questions and responses to other students are included for each week.
  11. Week 1:
  12. DQ1: What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why.
  13. DQ2: In your opinion, why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?
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