The accounting cycle part 1 will cover identification, analyzing of transactions, journalizing, posting, and trial balance.
The correct answers for our 2nd video entitled "What is GAAP?" are as follows:
1. Going Concern Assumption
2. Accounting Constraints
3. Cost Principle
4. Cost-Benefit Constraint
5. Full Disclosure Principle
6. Accounts Receivable
7. GAAP
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