True or False. Write TRUE if the statement is correct and FALSE if otherwise. (6-10)
B. True or False. Write TRUE if the statement is correct and FALSE if
otherwise. (6-10)
1. In order to have an accurate picture of the financial health of your business, you need to make
2. As a business owner, you cannot convince potential investors to invest in your business if your financial statements are inaccurate.
3. You can prepare accurate financial projections for the coming months even if you don’t have an accurate picture of what your monthly revenue and operating expenses are.
4. Preparation of adjusting entry is part of the accounting cycle.
5. Both accrued expenses and accounts payable are accounted for
under “Current Liabilities” on a company's
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