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In your own words, how does double entry accounting work with the accounting equation. What is an asset? A liability? An equity? A revenue? An
In your own words, how does double entry accounting work with the accounting equation.
What is an asset? A liability? An equity? A revenue? An expense?
Define debits and credits in relation to financial accounting.
How do debits and credits works with the different types of accounts (assets, liabilities, equity, revenue, and equity)?
What is a normal balance? What is the normal balance for each account type?
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