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Why are balance day adjustments necessary

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Reference no: EM132745998

Question: 1. Why are balance day adjustments necessary?

2. What is the difference between financial and management accounting?

3. Why does accounting equation always balance?

4. Explain the concept of profit.

5. How does Assets differ from expenses

6. How is cash different from profit?

7. Explain the differences between current assets and non current assets.

Reference no: EM132745998

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