16. Define the accounting cycle and list the stages of the cycle. 17. Explain the meaning of the term, "matching concept." 18. The temporary or nominal accounts are closed prior to the start of...

16. Define the accounting cycle and list the stages of the cycle.

17. Explain the meaning of the term, "matching concept."

18. The temporary or nominal accounts are closed prior to the start of the next accounting cycle. In this closing process, the amounts in each of these accounts are transferred to what other account(s)?

19. What is meant by the "fraud triangle"?

20. Discuss the importance of ethics in the accounting profession.