External business transactions are transactions between the business entity and some 5)other (outside)party.
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Q1: The two main accounting principles used in
Q4: Internal transactions often include cash payments.
Q5: Companies with little seasonal variation in sales
Q8: The natural business year can only be
Q9: Before making adjusting entries at the end
Q10: Interim financial reports cover a firm's business
Q12: Internal transactions have no effect on the
Q13: Adjusting entries are used to record the
Q18: Adjusting entries are required to match revenues
Q20: IFRS requires the preparation of interim financial
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