Write any three timing differences on recording of transactions.
Answers
Answer:
Types of Accounting Transactions based on the Exchange of Cash. Based on the exchange of cash, there are three types of accounting transactions, namely cash transactions, non-cash transactions, and credit transactions.
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Answer:
Having learned the basics of the balance sheet in the earlier parts of my articles, let us now turn to the business accounting process and get to know how business transactions are recorded in the books of accounts of an enterprise.
You now know that financial statements tell us how a business is performing and where it stands. The financial statements are, however, the final product of the accounting process, raw material for which is the entries of business transactions recorded in the books of account.
The financial statements are a summary of such entries. In other words, what is cooked in the books is dished up in the financial statements.
Explanation:
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