1. What led to the collapse of the economic environment within the U.S.? Answer the same question from an international perspective. What is one of the single most important factors to judge whether a country is recovering from the global economic recession?
2. Since most companies use accounting computer systems, are the concepts of debits, credits and general ledger obsolete?
3. The DuPont Model illustrates the impact of the profit margin and asset turnover on return on investment. Accordingly, defend or attack the statement that all companies should have the objective of maximizing both the profit margin and asset turnover.
Please make sure the answer is in your own words and not copied and pasted from another source.