Company ( Local Gas Station / Convenience Store ) Do you think the same person who receives
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Question:
Company (Local Gas Station/Convenience Store)
- Do you think the same person who receives cash payments should also prepare the bank reconciliation? Give at least one reason to support the answer.
- Share some examples of current and long-term liabilities for the company. Reflect on the financial statement presentation requirements for the company's current and long-term liabilities. What changes if any would be made make? Why, or why not?
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