Please answer each question, min 75 words each.
1. What components should you include in a business plan to gain the attention of the loan officer at a commercial lending financial institution? What makes these components important?
2. Imagine you are a loan officer presented with a loan package from a start-up company and one from a well-established company. What specific components would you require in the start-up companys loan package to approve the requested loan? How do your lending requirements for the start-up company differ from those for the established company applying for a loan?
3. What criteria are considered when identifying a business transaction?
4. How are debits and credits used to record these transactions?
5. What is the theory behind the matching principle?
6. In what method of accounting, accrual or cash, does the matching principle apply?
7. What are the differences between the cash and accrual methods of accounting?
8. Explain the benefits of each for business.
Kimmel, P.D., Weygandt, J.J., & Kieso, D.E. (2016). Accounting: Tools for Business Decision Making (6th ed.). Hoboken, NJ: John Wiley & Sons.