Question: Multi-part accounting question: 2a. Explain how double-entry bookkeeping and the accounting cycle contribute to the accuracy of financial reports and reduce the risks of fraud
Multi-part accounting question:
2a. Explain how double-entry bookkeeping and the accounting cycle contribute to the accuracy of financial reports and reduce the risks of fraud and error.
2b. Explain how the accounting system expressed in the balance sheet, income statement, and statement of cash flows contributes to the education of investors and other users of these financial statements.
2c. Explain how fraud and error are detected and prevented by an entity's internal control system.
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