Insert the correct punctuation in the following sentences. a. A general ledger contains all the assets liabilities

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Insert the correct punctuation in the following sentences.
a. A general ledger contains all the assets liabilities and owners equity accounts
b. The purpose of a trial balance is to prove that debits equal credits but does not prove that all transactions have been recorded
c. The current assets section of the balance sheet contains items such as cash accounts receivable and prepaid expenses and the current liabilities section contains items such as accounts payable notes payable and short term debt
d. The auditing exam was to begin at 200 pm but the professors car broke down so we didn’t begin until 230 pm
e. Did William ask How can we finish the audit to night because Linda said We have twenty hours of work left to do

Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Accounting and auditing research tools and strategies

ISBN: 978-1118027073

8th edition

Authors: Thomas Weirich, Thomas Pearson, Natalie Tatiana

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