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8.Why is drawings is not an expense 9.Why does accounting concepts and assumptions exist? 10.Why is accrual based profit better than a cash based profit
8.Why is drawings is not an expense
9.Why does accounting concepts and assumptions exist?
10.Why is accrual based profit better than a cash based profit calculation?
11.What is depreciation? Why is it treated as an expense?
12.Why are financial statements necessary? What information do they provide?
13.Explain the basic difference between a service and a retail business.
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