Chapter 2: Dual effects of transactions

As and when business transactions take place, two effects emerge from them. In this course we study these effects, and more!

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16
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English

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The first step of preparing an account is the creation of a transaction, as well as its identification. When the word transaction is used,
- It has to be a business transaction
- It has to be economic transaction of business
- Economic transaction should have monetary value
- Business transaction can be in cash or in credit from
- Business transaction can be internal or external

In this course:
+ Meaning and classification of business transactions
+ Identification of cash and credit transactions
+ What are vouchers?
+ Dual effects of transactions
+ Types of accounts
+ Rules of debit and credit of accounts
+ Steps of debiting and crediting of accounts (Exercise)


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204 & 301 Turning Point Complex
Nr. ABS Tower
O.P. Road
Vadodara - 390001
Gujarat, India