Tuesday, 3 November 2015

Solution to Accounts Quiz 3

Solution to Accounts Quiz 3
1. Financial Accounting
2. Treasury Stock
3. Assets
4. Accounting Equation
5. Liabilities
6. Equity
7. Business Transactions
8. Double Entry Accounting
9. General Ledger
10. Contra Account

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Contra entry example

Contra Entry :- If a transaction requires entries on both the debit and the credit sides simultaneously, it is called 'Contra entry...