The two components of a journal entry are the date and the amount.
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Q5: The purpose of accounting in most cases
Q6: Accruals, deferrals, and amortizations are the three
Q7: The notion of relating revenues to periods
Q8: The process of recording transactions in a
Q9: Revenues and expenses are temporary subsets of
Q11: As expenses increase, the equity of an
Q12: The first step toward preparing financial statements-after
Q13: Adjusting entries are only needed if there
Q14: Companies typically prepare three separate financial statements-a
Q15: The purpose of preparing an entry to
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