Effects of the five major accounting assumptions on the accounting process.

Discuss the effects of the five major accounting assumptions on the accounting process.
Describe the five concepts' impact on the accounting process.
Describe the impact on the accounting process of the three modifying conventions.
Complete the equations of merchandising accounting.
Describe the two methods used to determine merchandise inventory.
Competency 4: Convey purpose, in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and scholarly writing standards.
Convey clear meaning through appropriate word choice and usage.