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what is unrecorded cheque

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12y ago

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Are Accruals needed when an unrecorded expense has been incurred or an unrecorded revenue has been earned.?

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Accruals are needed when an unrecorded expense has been incurred or an unrecorded revenue has been earned?

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What is unrecorded shrinkage loss?

Unrecorded shrinkage loss refers to the loss of inventory that is not accounted for in financial records, often due to theft, damage, or errors in counting. This type of loss can go unnoticed until inventory audits are conducted, leading to discrepancies between actual stock levels and recorded amounts. Effective inventory management and regular audits can help identify and mitigate unrecorded shrinkage loss.


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