Rose and Mary fashion designers. They are considering joining forces and setting up their own business. Bob wants to invest in taking an accounting course to start his business or hiring an accountant. Mary thinks that it is not necessary and that all they need is to find a place and start working, because they already have several customers who are waiting for them to open a business. a. What do you think about Mary stance? Express an informed opinion, setting out your arguments from the perspective of what is accounting. B. Indicate how you would advise Mary Rose the issue of the importance or relevance of accounting in the business.

Rose and Mary fashion designers. They are considering joining forces and setting up their own business. Bob wants to invest in taking an accounting course to start his business or hiring an accountant. Mary thinks that it is not necessary and that all they need is to find a place and start working, because they already have several customers who are waiting for them to open a business. a. What do you think about Mary stance? Express an informed opinion, setting out your arguments from the perspective of what is accounting. B. Indicate how you would advise Mary Rose the issue of the importance or relevance of accounting in the business.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Rose and Mary fashion designers. They are considering joining forces and setting up their
own business. Bob wants to invest in taking an accounting course to start his business or
hiring an accountant. Mary thinks that it is not necessary and that all they need is to find a
place and start working, because they already have several customers who are waiting for
them to open a business.
a. What do you think about Mary stance? Express an informed opinion, setting out your
arguments from the perspective of what is accounting.
B. Indicate how you would advise Mary Rose the issue of the importance or relevance of
accounting in the business.

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