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  3. Study Set
    Fundamental Accounting Principles Study Set 5
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    Exam 1: Accounting in Business
  5. Question
    An Exchange of Value Between Two Entities Is Called
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An Exchange of Value Between Two Entities Is Called

Question 1

Question 1

Multiple Choice

An exchange of value between two entities is called:


A) The accounting equation.
B) Recordkeeping or bookkeeping.
C) An external transaction.
D) An asset.
E) Net Income.

Correct Answer:

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