FFMA Week 3 - Double Entry book keeping principles Flashcards by Ini Kazeem | Brainscape

Q

For every transaction there is…

A

2 entries

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Q

What is a good way to think about what is credit and what is debit in the Double Entry Bookeeping System

A

Debit is something that you spend (Expenses, Assets
Credit is something that you earn (Income/Revenue, Funding (Liabilities)

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Q

Remember this

A

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