Accounting programs use the general rules of accounting for recording:

Question

Quizplus · Accepted Answer

The general rules of accounting include recording assets, liabilities, equity, revenues, and expenses, which are critical components for creating accurate financial statements and determining a company's financial position. Petty cash receipts, salaries, sick/vacation days, and benefits are all specific transactions that may be recorded under these broader categories.

Accounting Programs Use the General Rules of Accounting for Recording