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1. Identify and define the 4 financial statements required by GAAP. How might users use financial statements to make decisions? 2. Discuss the accounting
1. Identify and define the 4 financial statements required by GAAP. How might users use financial statements to make decisions? 2. Discuss the accounting closing process. Why is it necessary to close a period? What might happen if the closing process does not occur? Please explain.
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