Write an essay that answers the following questions:
1. “Accounting is ingrained in our society and it is vital to our economic system in Qatar.” Do you agree? Explain.
2. In February 2008, Paula King invested an additional Si 0,000 in Hardy Company. Hardy’s accountant, Lance Jones, recorded this receipt as an increase in cash and revenues. Is this treatment
appropriate? Why or why not?
3. Maria Alvarez, a beginning accounting student, believes debit balances are favorable and credit balances are unfavorable. Is Maria correct? Discuss