1. Define and briefly discuss the double-entry system of accounting. 2. What is the purpose of the chart of accounts? Explain the numbering typically associated with the accounts. 3. What does a...

1. Define and briefly discuss the double-entry system of accounting.

2. What is the purpose of the chart of accounts? Explain the numbering typically associated with the accounts.

3. What does a ledger show? What’s the difference between a ledger and the chart of

accounts?