Accounting is ingrained in our society and it is vital to our economic system.” Do you agree? Explain.

“Accounting is ingrained in our society and it is vital to our economic system.” Do you agree? Explain.
2. Identify and describe the steps in the accounting process.
3. (a) Who are internal users of accounting data? (b) How does
accounting provide relevant data to these users?
4. What uses of fi nancial accounting information are made by
(a) investors and (b) creditors?
5. “Bookkeeping and accounting are the same.” Do you agree?
Explain.