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In class we mentioned that for an external transaction to be recorded in the accounting records, neither entity involved in the transaction has to have
In class we mentioned that for an external transaction to be recorded in the accounting records,
neither entity involved in the transaction has to have started to complete their obligation.
at least one entity involved in the transaction has started to complete their obligation.
both entities involved in the transaction must have completed their obligations.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
22nd Edition
324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844
