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Be prepared to take a quiz on topics covered in the assigned readings for
Week two.
1. Expenses are
normally accrued at the end of the accounting period by a small business that
follows the cash method of accounting. (True/False).
2. List two
expense accounts that are usually accrued at the end of an accounting period.
(30%)
3. Name the
document that is usually completed before a purchase order is executed. (30%)
4. Which assertion is of primary importance to
the auditor in auditing accounts payable? Why
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