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Why there is a need of Accounting Standards? Minimum 3 points

Why there is a need of Accounting Standards? Minimum 3 points

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter7: Accounting Information Systems
Section: Chapter Questions
Problem 10Q: The schedule of accounts payable should equal what?
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