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3. Source documents provide evidence of business transactions and are the basis for accounting entries. True False 4. Items such as sales tickets, bank statements, checks, and purchase orders are examples of a business's source documents. True False Test Bank for Fundamental Accounting Principles 22nd Edition by Wild
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accountants to develop some principles, concepts and conventions which may be regarded as fundamentals of accounting. The need for generally accepted accounting principles arises from two reasons: 1) to be logical & consistent in recording the transaction 2) to conform to the established practices & procedures
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