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3. Why are adjusting entries so important for the truthfulness of the information presented in the financial statements? 4. Explain what would happen to the

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3. Why are adjusting entries so important for the truthfulness of the information presented in the financial statements? 4. Explain what would happen to the income statement's accounts if the adjusting entries are omitted. 5. Explain what would happen to the balance sheet's accounts if the adjusting entries are omitted

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