Fundamental Accounting Principles Study Set 5
Quiz 3: Adjusting Accounts and Preparing Financial Statements
Discuss How Accrual Accounting Enhances the Usefulness of Financial Statements
Discuss how accrual accounting enhances the usefulness of financial statements.
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Identify the differences between accrual accounting and cash basis accounting.
Explain the purpose of adjusting entries at the end of a period.
List the three-steps of the adjusting process.
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