Question

Define opening entry

Answer 1

Answer:

An opening entry is the initial entry used to record the transactions occurring at the start of an organization. The contents of the opening entry typically include the initial funding for the firm, as well as any initial debts incurred and assets acquired.

Answer 2

An opening entry is the initial entry used to record the transactions occurring at the start of an organization.

The contents of the opening entry typically include the initial funding for the firm, as well as any initial debts incurred and assets acquired.

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