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2020-8-2 · Accounting principles help govern the world of accounting according to general rules and guidelines. GAAP attempts to standardize and regulate the definitions, assumptions, and methods used in

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Accounting is the language of business. It is the system of recording, summarizing, and analyzing an economic entitys financial transactions. Effectively communicating this information is key to the success of every business.

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If you want more practice with full accounting questions and answers you should get the official exercise book for this site, Volume 2 in the Accounting Basics series: the Workbook.. Accounting Basics: Workbook has 88 questions and exercises, starting from the accounting equation and basic concepts to journal entries, T-accounts, the trial balance, financial statements, the cash flow statement

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