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All the members in the Board of Directors hope to ensure the proper reporting.
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The recording rules of a manual accounting system are different from that of a computerized one.
Your company purchased art supplies for $1,400 cash and office supplies for $700 cash from Rocklin Supply Company. The accounting clerk recorded the transaction as:Dr. Art Supplies $1,400Cr. Cash $2,100
In the double-entry system, debits must always equal credits.
Skewed financial data with the aim of a better compensation can lead to serious consequences for a company.
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