Transactions are economic events that require recording in the financial statements

Transactions are economic events that require recording in the financial statements

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Transactions are economic events that require recording in the financial statements. Not all activities represent transactions. Assets, liabilities, or stockholders’ equity items change as a
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Unformatted text preview: result of some economic event. Dual effect on the accounting equation....
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This note was uploaded on 01/04/2012 for the course ACCOUNTING ac 201 taught by Professor - during the Spring '11 term at Montgomery.

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