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I. Briefly explain the answers to the following questions. 1. What are the five accounting processes and briefly explain each of them. 2. What was

image text in transcribed I. Briefly explain the answers to the following questions. 1. What are the five accounting processes and briefly explain each of them. 2. What was developed from the Philippine Financial Reporting Standard (PFRS) for SMEs? 3. Describe the functions of non-government organizations and its structure and activities. 4. Give at least three books/documents that are maintained for accounts management in non-government organizations. Briefly explain the function of each of them. 5. Give at least three books/documents that are maintained for accounts management in Cooperatives. Briefly explain the function of each of them. 6. How does general accounting and NGO accounting differ? 7. How does NGO accounting and co-op accounting differ? 8. What is the distinction of microfinance organizations to commercial banks? 9. What is the function of a financial report? 10. What is the implication or function of accounting to non-government organizations

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