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If a Contract Appears to Be Legal on Its Face,it

question 32

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If a contract appears to be legal on its face,it will be enforceable even if it was entered into for an illegal purpose.

Analyze and reconstruct adjusting entries from trial balances to determine net income.
Understand the principles of accrual basis accounting and how it differs from cash basis accounting.
Identify and explain the four basic types of accounts that require adjusting entries.
Determine the necessity and process for updating accounts at the end of the period.

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