Question: Question 1: Proficient : Describe the steps in recording and posting the effects of a business transaction and provide some examples of source documents used

  1. Question 1:
    • Proficient:
      • Describe the steps in recording and posting the effects of a business transaction and provide some examples of source documents used in these steps.
      • Define debit and credit and name the types of accounts that are (three correct responses):
        • Increased by a debit.
        • Decreased by a debit.
        • Increased by a credit.
        • Decreased by a credit.

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