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Read and Reflect: Mr. Ang is a new businessman who doesn't have any experience in accounting. His business doesn't maintain a chart of accounts and added to that, he is not organized and systematic with his business transactions. By the time the BIR personnel wanted to check his financial reports, he panicked and he needed an expert in doing the accounting job. What is the root cause of the problem? Do you think Mr. Ang would have encountered these problems had he learned about the 5 major accounts and the chart of accounts?
Sagot :
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