Basics of Double Entry

Flashcards by Adam T, created more than 1 year ago

Basics of double entry. Bookkeeping level 1, chapter 3.

	Created by Adam T over 7 years ago

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What are the two classifications of INCOME in double entry bookkeeping?

What is the definition of CAPITAL INCOME?

What is the definition of REVENUE INCOME?

What are the two classifications of EXPENDITURE in double entry bookkeeping?

What is the definition of CAPITAL EXPENDITURE?

What is the definition of REVENUE EXPENDITURE?

An example of business income and expenditure.