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Company ( Local Gas Station / Convenience Store ) Do you think the same person who receives cash payments should also prepare the bank reconciliation?

Company (Local Gas Station/Convenience Store)

  • Do you think the same person who receives cash payments should also prepare the bank reconciliation? Give at least one reason to support the answer.
  • Share some examples of current and long-term liabilities for the company. Reflect on the financial statement presentation requirements for the company's current and long-term liabilities. What changes if any would be made make? Why, or why not?

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