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1-1 Discussion: Using Accounting (Small Grocery Store)
As a potential business owner, discuss why and how you can use accounting in your business by answering the following questions: What type of business would you like to own? How will you be able to tell if your business is successful? What accounting knowledge do you think you will need to have? What do you think will be your biggest accounting challenges? Why?
I chose opening a small grocery store.
Use of Accounting in Business Name Institutional Affiliation Use of Accounting in Business The preferred choice of business is a small grocery store. The business will be considered successful if the entrepreneur is able to repay all his obligations without having to borrow. Such obligations include payments to grocery suppliers. Similarly, if the owner makes huge profits, the business will be considered a success (Clayburg,