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Chapter 9 Maintaining Accounting Records for Service BusinessesMcGrawHill/IrwinCopyright 2009 by The McGrawHill Companies, Inc. All Rights Reserved. Peach tree Diagram, p. 247 This diagram illustrates
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Maintaining accounting is the process of recording and managing financial transactions for an individual or business.
All individuals and businesses are required to file maintaining accounting to track their financial activities.
Maintaining accounting can be filled out manually or using accounting software to record income, expenses, assets, and liabilities.
The purpose of maintaining accounting is to track financial performance, make informed decisions, and comply with tax regulations.
Maintaining accounting must report details of income, expenses, assets, liabilities, and any financial transactions.
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