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Accounting Fundamentals Certification Exam Questions and CORRECT Answers
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What is the Accounting Cycle? Prep financial statements, transactions,make entries in general journal, calssify data in general ledger, take a trial balance What is accounting? distinct discipline with its own standards and language. What does GAAP stand for? Gnerally accepted accounting principles What is sole proprietorship? a business that is owned by an individual What is partnership? a business that is owned by two or more persons. What is a corporation? a separate, legal entity and is owned by stockholders. What is FASB? Financial Accounting Standards Board
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