Acca fa1 exam questions Study guides, Class notes & Summaries
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ACCA FA1 Exam Questions and Answers All Correct
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ACCA FA1 Exam Questions and Answers All Correct 
What are the two main type of business transactions - Answer-Cash or Credit. 
 
Debit - Answer-Is always on the left-side of the column 
 
Credit - Answer-Is always on the right-side of the column 
 
Debit 
To own/have 
AN ASSET INCREASES 
eg: new office furniture 
CAPITAL/A LIABILITY DECREASES 
eg: pay an account payable 
INCOME DECREASES 
eg: cancel a sale 
AN EXPENCE INCREASES 
eg: incur advertising cost 
 
Left hand side - Answer-CERDIT 
To ...
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ACCA FA1 Exam Questions and Answers All Correct

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