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Q1. What are the two reports need by a business? Explain. Q2. What is Share capital? Q3. What is a prepaid expense? Q4. How are

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Q1. What are the two reports need by a business? Explain. Q2. What is Share capital? Q3. What is a prepaid expense? Q4. How are transactions recorded in accounting? Q5. A company buys software for long term use where should it be recorded, under which account? Q6. A supplier delivers meat to Walmart, where will this transaction be recorded in Walmart's books

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