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    14 views1 page

    Completion of The Accounting Cycle - Film Viewing

    Uploaded by

    JamesAnthony

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 1

    FUNDAMENTALS OF ACCOUNTING

    COMPLETION OF THE ACCOUNTING CYCLE

    Instructions: Answer the following on a yellow paper (one whole sheet). Do


    not copy the questions.

    1-10: Enumerate the steps in the accounting cycle


    11. Explain the concept of closing the books
    12-13: Why is there a need to close the books?
    14. Differentiate classified from non-classified balance sheet
    15. Who issues an opinion on whether the financial statements were fairly
    prepared and presented?

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