Which account do you assign? (Accounting terms)

[Jesha]

Business English Lesson, Advanced Level

ESL/EFL Test #107 "Accounting terms", question 1

The customary manner in which a business analyzes and records its ......... is by first entering them into a journal.

(a) transactions
(b) communications
(c) dealings
(d) ventures

Business English Lesson, Advanced Level

ESL/EFL Test #107 "Accounting terms", answer 1

The customary manner in which a business analyzes and records its transactions is by first entering them into a journal.

Correct answer: (a) transactions
_________________________

Which account do you assign when you put your personal money into your business

Jesha

[Mister Micawber]

.
It's been a long time since I had an accounting course, Jesha, and I suppose it will vary according to the type of entity (sole proprietorship, partnership,etc) and the set-up of the books, but personal investment by an owner would be entered under Contributed Capital or something similar.
.
_________________
Canadian-American native speaker
who teaches English for a living at Mister Micawber's
ESL cafe: Interview with Mister Micawber

[pivaeng]

I know that my tip arrived very late, but it's better late, then never.

I was taking accounting class recently as well and found a really well written accounting lecture, covering what you need to answer your question.

You can go to simplestudies.com