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3 Written Questions

2 Multiple Choice Questions

  1. 1. Measure business profit(revenue and expenses) in the income statement accurately.
    2. Update the balance sheet accounts(assets and liabilities).
  2. Debited - Expense.
    Credit - Asset.

2 True/False Questions

  1. Accrued revenue.Debited - Expense.
    Credit - Liability

          

  2. Depreciation.Debited - Expense.
    Credit - Asset.

          

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