Generally Accepted Accounting Principles Have Identified Four Types of Accounting

question 79

Essay

Generally accepted accounting principles have identified four types of accounting changes and two possible methods to use in accounting for these changes, as follows:
Required:
Following is a list of errors and changes.In the spaces provided, use the appropriate symbols selected from the above lists to indicate the type of change and how the change should be treated in the financial statements.

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Definitions:

Line of Credit

A flexible loan from a bank or financial institution that offers a borrower the ability to draw funds as needed, up to a specified limit.