Basic Accounting principles
Fashawe college
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Basic Accounting Principles
- Study guide • 23 pages • 2019
- CA$10.56
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5.0 INTRODUCTION
We have studied economic activities which have been converted
into business activities. In business activity a lot of “give &
take” exist which is known as transaction. Transaction involves
transfer of money or money’s worth. Thus exchange of money,
goods & services between the parties is known to have resulted
in a transaction. It is necessary to record all these transactions
very systematically & scientifically so that the financial
relationship of a business with other ...
Study guide
Basic Accounting Principles
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5.0 INTRODUCTION We have studied economic activities which have been converted into business activities. In business activity a lot of “give & take” exist which is known as transaction. Transaction involves transfer of money or money’s worth. Thus exchange of money, goods & services between the parties is known to have resulted in a transaction. It is necessary to record all these transactions very systematically & scientifically so that the financial relationship of a business with other ...
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