Answer the 8 questions below, each question minimum of 75 words. Must be in APA format, please identify the questions on paper.
Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016). Accounting: Tools for Business Decision Making (6th ed.). Hoboken, NJ: John Wiley & Sons.
- What components should you include in a business plan to gain the attention of the loan officer at a commercial lending financial institution? What makes these components important?
- Imagine you are a loan officer presented with a loan package from a start-up company and one from a well-established company. What specific components would you require in the start-up company’s loan package to approve the requested loan? How do your lending requirements for the start-up company differ from those for the established company applying for a loan?
- What criteria are considered when identifying a business transaction?
- How are debits and credits used to record these transactions?
- What is the theory behind the matching principle?
- In what method of accounting, accrual or cash, does the matching principle apply?
Based on the video below answer questions below:
Watch the “Cash Basis vs. Accrual Basis” video.
- What are the differences between the cash and accrual methods of accounting?
- Explain the benefits of each for business.