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Accounting | Accounting homework help

  1. The discount allowed column appears on the debit side of the cash book. a. True b. False
  2. What are the closing entries?
  3. What is the purpose of closing entries?
  4. Explain what is meant by the principle of adequate disclosure.
  5. Which of the following is true of the small business entity concessions? A) The concessions do not apply to primary producers. B) A taxpayer may apply either all or none of the concessions.
  6. Discuss the following concept and its importance: Accounting rate of return.
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