Accounting Principles Lecture 1

How well do you understand Double-Entry Accounting? Try to answer these five questions. 1. In Double-Entry Accounting, the stuff that a business owns is equal to the stuff that it owes. True or False? 2. Luca Pacioli is often called the "Father of Accounting". True or False? 3. In Double-Entry Accounting, Expense accounts normally have credit ...

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