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Errors
Mistakes or inaccuracies in financial records or transactions.
Unearned Revenues
Money received by a company for goods or services yet to be delivered or performed, considered a liability until fulfilled.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the loss of value due to age, wear, and tear, or obsolescence.
Accrue Interest
The process of recognizing interest earned or incurred on an outstanding debt over a period of time.
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Q65: Which of the following reforms was suggested