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.