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Examen
FAC1501 UNIT 1: THE NATURE AND PURPOSE OF FINANCIAL ACCOUNTING QUESTIONS WITH 100% CORRECT ANSWERS
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---2septiembre 20242024/2025A+
- FAC1501 UNIT 1: THE NATURE AND 
PURPOSE OF FINANCIAL 
ACCOUNTING QUESTIONS WITH 100% 
CORRECT ANSWERS 
transaction - ANSWERS An action where money is paid and, in return, an item or service, that the 
buyer needs is obtained. 
financial accounting - ANSWERS Is the orderly and systematic identification and recording of the 
monetary values of financial transactions of an individual or business entity, and the reporting of the 
results 
objective of financial accounting - ANSWERS To enable t...
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