Multiple choice: 1. A business purchased equipment for ₱10,000 but deliberately reported it as ₱100,000. Which of the following principles is most likely not violated? A. Free from error B. Historical cost C. Materiality D. Faithful representation 2. These users need accounting information in order to regulate businesses that are within the scope of their legal authority. A. Auditors B. Government regulatory bodies or agencies C. Employees D. Creditors

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A:

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A: The question is based on the concept of financial accounting.  

Q: INVENTORY  1. At the start of the year wellness has 3,000 IV.  During the year it buys 5,000 IV.  I...

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A: Equity Investments: When money is invested in a firm via the purchase of shares in that company on t...

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A: Introduction: Journal entries: Recording of a business transactions in a chronological order. First ...

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A: Economic resources are essential for business operations.

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Q: Problem 7-19 Education Tax Credits (LO 7.5) Janie graduates from high school in 2021 and enrolls in ...

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Q: 3

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A:

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