DEVRY ACCT 224 Week 6 You Decide Assignment Business Tax Concepts

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DEVRY ACCT 224 Week 6 You Decide Assignment
Business Tax Concepts

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• 1. What constitutes a business expense?
• 2.What are the differences between cash and
  accrual basis accounting? Provide an example of
  each type. Briefly explain why a company might
  need to adjust entries in the general ledger. Be
  sure to address the classes and types of
  adjusting entries.
• 3.Evaluate how the appearance of solvency for a
  business changes when using cash vs. accrual
  accounting, noting which stakeholders might be
  affected and how.