WebACCT 100 - INTRODUCTION TO ACCOUNTING Chapter 2 Analyzing Business Transactions A business transaction is a financial event that changes the resources of a firm. Examples of common business transactions include such things as purchases, sales, payments, and receipts of cash among other things. There are five basic types of accounts. WebChapter 1: Introduction to accounting 1.1 Introduction Accounting is regarded as the language of business. Accounting can be divi ded into two sections: Book-keeping Book-keeping is a process of detailed recording of all the financial transactions of a business. It is necessary for even the smallest business to make a record of every transacti on
Define Corporate Accounting: Everything You Need to Know
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Frank Wood
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