Describe the process of transaction analysis.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Describe the process of transaction analysis.
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Step 1: Definition
Process of Transaction analysis:
The process of transaction analysis involves the selection of transactions which require a recording in the financial books and then the effect of such transactions shall be analysed to know the elements of accounting equation and the effects of each transaction must be recorded for increase or decrease in elements of accounting equation with the result being equalization of Accounting equation.
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