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Problem 1: A trial balance:
a) is a list of accounts with their balances at a given time.
b) proves the mathematical accuracy of journalized transactions.
c) will not balance if a correct journal entry is posted twice.
d) proves that all transactions have been recorded.
Problem 2: Which of the following is not a step in the accounting process?
a) Verification
b) identification.
c) recording.
d) communication.
Financial Statement Analysis and Preparation
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Computation of Free Cash Flow
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