Balance sheets /worksheets Flashcards by Amber Bowden | Brainscape

Q

what is the concept of duality ?

A

Every business transaction will have a dual effect on the worksheet

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Q

A balance sheet is also known as ?

A

Statement of financial position

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Q

what does income increase on the work sheet?

A

Equity

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Q

what do expenses decrease on the work sheet?

A

Equity

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