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Due to electronic files and Web communications, source documents are no longer required. ()
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Posting is the transfer of ledger information to the journal. ()
An owner's capital account normally has a debit balance. ()
The three common forms of business ownership include sole proprietorship, partnership, and non-profit. ()
Suppose no beginning inventory, a company purchased and sold goods in the month of May as the following: May 2. Purchased 30 units at $10 per unit. May 12. Purchased 50 units at $12 per unit. May 15. Sold 40 units at $20 per unit. So, follow the weighted average costing method, the company's gross profit should be ()
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