Question: Accounting Questions What is the basic accounting equation? Explain the difference between accrual accounting and cash accounting. What are the components of a balance sheet?

Accounting Questions

  1. What is the basic accounting equation?
  2. Explain the difference between accrual accounting and cash accounting.
  3. What are the components of a balance sheet?
  4. Define depreciation and explain its importance in accounting.
  5. What is the purpose of a trial balance in accounting?

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