ACC 240 Topic 3 Discussions GCU Financial Transactions

ACC 240 Topic 3 Discussions GCU Financial Transactions

ACC 240 Topic 3 DQ 1

Not all events that occur in a business on a daily basis constitute financial transactions that are recorded. Give an example of a business transaction that would not be recorded and explain why it would not need to be recorded.

ACC 240 Topic 3 DQ 2

Briefly describe each element of the accounting equation. Explain why it is necessary for the equation to remain in balance.

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