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Accounting Equation in Balance a. At least how many accounts must be affected by each
Chapter 3, Problem 5(choose chapter or problem)
Accounting Equation in Balance
a. At least how many accounts must be affected by each business transaction? Why?
b. Describe the four-step process described in this chapter used to analyze business transactions.
Questions & Answers
QUESTION:
Accounting Equation in Balance
a. At least how many accounts must be affected by each business transaction? Why?
b. Describe the four-step process described in this chapter used to analyze business transactions.
ANSWER:Step 1 of 3
Business transaction is the event which is related to the money and also affect the component of the accounting equations that are assets, liabilities and equity.