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8. Why might a company chose a 13-week account period rather than a calendar quarter? (They are not quite identical.) 9. An investment in a

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8. Why might a company chose a 13-week account period rather than a calendar quarter? (They are not quite identical.) 9. An investment in a large computer does not have an infinite life. Should the cost of this computer be recognized as an expense only at the end of its useful life? Explain your answer. 10. Why do Gross Margin, Operating Margin and Net Income accounts not appear in a chart of accounts? 11. Give two examples of transactions that lead to a company utilizing a Prepaid Assets account. 12. Only one entry is made during each accounting period to the Retained Earnings account. What is that entry, and when is it made

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