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  3. Study Set
    Fundamental Accounting Principles Study Set 1
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    Exam 3: Adjusting Accounts and Preparing Financial Statements
  5. Question
    Accrual Accounting and the Adjusting Process Rely on Two Principles
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Accrual Accounting and the Adjusting Process Rely on Two Principles

Question 13

Question 13

Short Answer

Accrual accounting and the adjusting process rely on two principles: the ________ principle and the ________ principle.

Correct Answer:

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revenue recognition;...

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