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14) Adjusting entries are necessary to 1.obtain a proper matching of revenue and expense. 2.achieve an accurate statement of assets and equities. 3.adjust assets and

14) Adjusting entries are necessary to 1.obtain a proper matching of revenue and expense. 2.achieve an accurate statement of assets and equities. 3.adjust assets and liabilities to their fair market value. 5.88 Points 1 and 2 3

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