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Essay 1. Why is it that employees are interested in the Financial Information of a business organization? 2. Why is it that the government is

Essay

1. Why is it that employees are interested in the Financial Information of a business organization?

2. Why is it that the government is interested in the Financial Information of a business organization?

3. Explain the Entity Concept of Accounting.

Discussion

EXPLAIN WHY THERE IS A NEED FOR ADJUSTING ENTRIES.
DIFFERENTIATE PREPAYMENTS FROM ACCRUED EXPENSES.
WHAT IS THE IMPORTANCE OF ADJUSTING ENTRIES?
WHAT IS THE ACCRUAL PRINCIPLE?

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