Accounting processes are broadly divided into two main categories: financial accounting and management accounting.
Correct Answer:
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Q43: Financial accounting Fl)is concerned with recording the
Q44: When does a debit take place?
A)When
Q45: In accounts receivable,which general ledger accounts are
Q46: Assets are monies the company earns by
Q47: A reconciliation account records the impact of
Q49: Liabilities are what the company owns,such as
Q50: In accounts payable,which general ledger accounts are
Q51: The general ledger is used to record
Q52: When does a credit take place?
A)When
Q53: Balance sheet accounts are grouped into:
A)Assets
B)Liabilities
C)Equity
D)Revenue
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