Unformatted text preview: needs to analyze each financial transaction so that the transaction is recorded accurately in the financial records. Financial statement users want to know that information reported is accurate and can be trusted. The purpose of making financial statements reliable is to provide accurate financial information for the user to use when making financial decisions. The $ 42,000 is reliable because it is the selling price of the machine and it is the most accurate....
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This note was uploaded on 02/02/2012 for the course ACCOUNTING Acc632 taught by Professor Marry during the Spring '10 term at College of the Bahamas.
- Spring '10