Question: 1.Explain the differentiation between outstanding cheques and uncleared cheques in your words? 2. Discuss the concept of temporary accounts in closing entries and the summary

1.Explain the differentiation between outstanding cheques and uncleared cheques in your words?

2. Discuss the concept of temporary accounts in closing entries and the summary of a closing process in your own words.

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Lets break down each question 1 Differentiation Between Outstanding Cheques and Uncleared Cheques Outstanding Cheques Definition Outstanding cheques are cheques that have been written and recorded in ... View full answer

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