Answer all 4 questions: 1. Asses the characteristics of and value of three types of accounting related to the educational environment: encumbrance, cost and accrual accounting. 2. Examine the purpose of audits, comparing and contrasting three kinds of audits: internal, state, and external audits. 3.Examine the basic principles related to insurance in the educational environment. Prioritize the appropriate types of insurance for an educational system with which you are familiar. Provide a rationale for your prioritization. 4. Based on the text, determine current trends regarding merit pay for teachers. Compare and contrast the pros and cons of establishing a merit pay system in a school district.