The double effect of every transaction

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• 1 practice task with hints and worked answers
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Other lessons in this sub-strand

1. Assets, liabilities, capital and the accounting equation
2. Preparing the statement of financial position
3. Classifying assets
4. Classifying liabilities and capital
5. The double effect of every transaction
6. Swapping one asset for another
7. Transactions that raise both sides
8. Transactions that lower both sides
9. Drawings and capital introduced
10. Profit, loss and net worth
11. Tracing a day's transactions
12. Preparing the statement after adjustments