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What is the role of a contingent liability

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Reference no: EM132643683

Question 1: What is accrual basis of accounting?

Question 2: What is the role of a contingent liability in preparation of accounts?

Question 3: What are retained earnings?

Question 4: Why is it necessary to prepare a cash flow statement?

Question 5: Relations between the balance sheet and statement of profit and loss account?

Question 6: What are operating expenses?

Question 7: What are the various accounting principles?

Question 8: What is the need for financial statements?

Reference no: EM132643683

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