What are the four basic financial statements

Post a 100-200 – word response for each of the following (bulleted) questions:

• Which step in the communication process do you consider most important?  Why do you think this?
• How has technology changed the communication process?  Provide examples.

Post a 150-200 – word response for each of the following (bulleted) questions:

• What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why.

• Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?