Expenses are the cost of assets consumed or services used in the process of generating revenue.
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Q2: Accounting provides financial comparisons of operating alternatives,
Q3: Two internal users of accounting information are
Q5: A partnership is a business organized as
Q6: As labour unions represent employees they are
Q7: Potential employees who use annual reports to
Q8: A proprietor has unlimited liability.
Q9: The liability of corporate shareholders is limited
Q10: Assets are resources owned by a business
Q11: Accounting communicates financial information about a business
Q11: Accounting information is not important to marketing
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