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Question 16 Not yet answered Marked out of 1.00 Flag question Purposes of an accounting...

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Accounting

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Question 16 Not yet answered Marked out of 1.00 Flag question Purposes of an accounting system includes all of the following except: Select one: a. Dictate the specific types of business transactions that the enterprise may engage in. O b. Classify the effects of transactions to facilitate the preparation of reports. c. Summarize and communicate information to decision makers d. Interpret and record the effects of business transactions. Question 17 Not yet answered Marked out of 0.50 Flag question Business Organizations must maintain integrity of financial reporting as users rely on the information and make rational decisions. Select one: True O False Question 18 Not yet answered Marked out of 1.00 P Flag question The excess of expenses of a period over its related revenues are called Select one: O a. net profit O b. loss O c. expense O d. gross profit

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