Types of Bookkeeping & Effects of transaction on accounting

It's the relationship between Assets, Liabilities, and owner’s equity that is shown to a formula

• The Accounting Equation

• Chart of accounts

• Bookkeping

• Transactions

_________ is a list of accounts codes for assets, liabilities, owner’s equity, revenues, and expenses.

• The Accounting Equation

• Chart of accounts

• Bookkeeping

• Transactions

small businesses and the simplest for it can be as basic as the maintenance of only a receipts and payment account.

• Credit

• Debit

• Singe-Entry Bookkeeping

• Double-Entry Bookkeeping

_____ the money that is coming out from your account or company

• Credit

• Debit

• Singe-Entry Bookkeeping

• Double-Entry Bookkeeping

_____ is the money that is coming in to your account or company

• Credit

• Debit

• Singe-Entry Bookkeeping

• Double-Entry Bookkeeping

_______ is the standard system of bookkeeping used by many businesses.

• Credit

• Debit

• Singe-Entry Bookkeeping

• Double-Entry Bookkeeping

_______ is the traditional way of recording financial transaction and it is paper based.

• Manual Method

• Computerized bookkeeping

• Internal transactions

• External Transactions

_______ is new and innovative, and allows for a faster recording of business.

• Manual Method

• Computerized bookkeeping

• Internal transactions

• External Transactions

______ take place among the employees of the business or company.

• Manual Method

• Computerized bookkeeping

• Internal transactions

• External Transactions

______ occur between a business and an external entity such as that when it borrows money from the bank.

• Manual Method

• Computerized bookkeeping

• Internal transactions

• External Transactions