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Question 1 of 2
1. Question
Do you think that a transaction can break the Accounting Equation?
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This response will be reviewed and graded after submission.
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No, a transaction can change the Accounting Equation but cannot break it.
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Question 2 of 2
2. Question
Goods costing Rs. 10,000 have been sold for cash at 25% profit. How will you show the transaction in the Accounting Equation?
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This response will be reviewed and graded after submission.
Grading can be reviewed and adjusted.Grading can be reviewed and adjusted.Hint
Increase cash by Rs. 12,500; Decrease stock by Rs. 10,000; and Increase capital by Rs. 2,500.
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