1. What are some accounting-related professions?
2. How do ethics rules affect auditors' choice of clients?
3. What work do tax accounting professionals perform in addition to preparing tax returns?
4. What does the concept of objectivity imply for information reported in financial statements? Why?
5. A business reports its own office stationery on the balance sheet at its $400 cost, although it cannot be sold for more than $10 as scrap paper. Which accounting principle and/or assumption justifies this treatment?