You have new items in your feed. Click to view.
Question and answer
How do classifying transactions using the rules of debit and credit relate to the practice of accounting and its uses in business?
Debits and credits are a system of notation used in bookkeeping to determine how to record any financial transaction. [ In financial accounting or bookkeeping, "Dr" (Debit) means left side of a ledger account and "Cr" (Credit) is the right side of a ledger account.[1] To determine whether one must debit or credit a specific account we use the modern accounting equation approach which consists
of five accounting elements or rules.[2] An alternative to this approach is to make use of the traditional three rules of accounting for: Real accounts, Personal accounts, and Nominal accounts to determine whether to debit or credit an account.[3] ]
Expert answered|cham718|Points 547|
Question
Asked 8/26/2012 7:08:48 PM
Updated 8/26/2012 8:19:42 PM
1 Answer/Comment
Get an answer
New answers
Rating

There are no new answers.

Comments
Please provide the link when copying and pasting large blocks of text to show your source.
Added 8/26/2012 8:19:42 PM
Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
How do classifying transactions using the rules of debit and credit relate to the practice of accounting and its uses in business?
Weegy: To determine whether one must debit or credit a specific account we use the modern accounting equation approach which consists of five accounting elements or rules.[2] An alternative to this approach is to make use of the traditional three rules of [ accounting for: Real accounts, Personal accounts, and Nominal accounts to determine whether to debit or credit an account. ] (More)
Question
Expert Answered
Asked 8/26/2012 6:59:21 PM
0 Answers/Comments
How do classifying transactions using the rules of debit and credit relate to the practice of accounting and its uses in business?
Weegy: To determine whether one must debit or credit a specific account we use the modern accounting equation approach which consists of five accounting elements or rules.[2] An alternative to this approach is to make use of the traditional three rules of [ accounting for: Real accounts, Personal accounts, and Nominal accounts to determine whether to debit or credit an account. ] (More)
Question
Expert Answered
Asked 8/26/2012 7:19:11 PM
0 Answers/Comments
26,190,131 questions answered
Popular Conversations
Used in MLA style instead of noting each source at the bottom of the ...
Weegy: All fields of research agree on the need to document scholarly borrowings, but documentation conventions vary ...
9/24/2016 7:39:25 PM| 3 Answers
Expressed powers are
Weegy: Strict Constructionist User: People who are against capital punishment argue that it violates the
9/25/2016 9:43:37 PM| 2 Answers
What are variable pay plans?
9/24/2016 1:46:45 AM| 1 Answers
Performance incentives include all the following EXCEPT Options ...
Weegy: Performance incentives include all the following EXCEPT? Performance incentives include all the following ...
9/24/2016 1:55:56 AM| 1 Answers
Weegy Stuff
S
L
P
P
P
P
P
L
Points 939 [Total 5011] Ratings 2 Comments 919 Invitations 0 Offline
S
P
1
L
Points 663 [Total 1543] Ratings 5 Comments 613 Invitations 0 Offline
S
Points 205 [Total 499] Ratings 0 Comments 205 Invitations 0 Offline
S
Points 100 [Total 100] Ratings 0 Comments 100 Invitations 0 Offline
S
L
P
Points 97 [Total 1209] Ratings 0 Comments 97 Invitations 0 Offline
S
Points 72 [Total 72] Ratings 0 Comments 72 Invitations 0 Offline
S
Points 30 [Total 30] Ratings 3 Comments 0 Invitations 0 Offline
S
L
Points 25 [Total 4250] Ratings 1 Comments 15 Invitations 0 Online
S
L
P
P
P
Points 13 [Total 3875] Ratings 0 Comments 13 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.