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=Welcome to AFM 101=

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Explain the purpose of the accounting worksheet (page 152) What is the purpose of closing the accounts and explain the steps involved (page 161) Explain the purpose and process of adjusting entries (page 160) What is the purpose of accounting ratios (page 169) What are the components of net sales revenue With regard to a retail business identify the two key ratios we studied and explain what each can tell you about a business ( GP and Inventory to page 222) Identify the purpose of special
 * Practice Questions**