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BASIC BOOKKEEPING - CHAPTER 1 - AN INTRODUCTION TO BOOKKEEPING
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4

July 2024

2023/2024

A+
BASIC BOOKKEEPING - CHAPTER 1 - AN INTRODUCTION TO BOOKKEEPING OBJECTIVES - 1. Define the three forms of business organization; 2. Define the five categories of accounts: assets, liabilities, owner's equity, revenues, and expenses; 3. Classify accounts according to the five categories; 4. Identify the generally accepted accounting principles GAAP. ASSETS - Things of value, owned by the business. E.g. Cash, buildings, equipment, mapper handles for sale. BALANCE SHEET - Statement f ass...
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