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assignment1 - INTERMEDIATE ACCOUNTING Assignment#1(CH3 Due...

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INTERMEDIATE ACCOUNTING Assignment #1 (CH3) Due date: Sep 29, 2009 (Tuesday) Student name: _______________________________________ Student ID: __________________________________________ 1. The double-entry accounting system means a. Each transaction is recorded with two journal entries. b. Each item is recorded in a journal entry, then in a general ledger account. c. The dual effect of each transaction is recorded with a debit and a credit. d. More than one of the above. 2. Which of the following is not an internal event? 3. A trial balance may prove that debits and credits are equal, but
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