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EXTERNAL AND INTERNAL EVENTS
Mipsis fect enti intemal and external
deleted creat inc ieracion beencen the ents andi
For example, the peymen of wages to an employee i an exter
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Ai iaeral event occurs eirly within the entity. The we of a piece of equip
‘meat an itera ve
Weal us the tern transaction to refer to any event, external
Breage fc ates
is necessary to fecogize an event inthe records? Are ll economic evens
‘rcogazed an transactions by the accountant? The answers to these ues
Petite concept of masnarment An event must he measured to he re
HGS res are relatively cay to mesure: the puyol or the week, the or
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THE ROLE OF SOURCE Documents
IN RECORDING TRANSACTIONS aaa
‘The Fest spin the recording process i idenifation A busines needs a syste of sowee documents in
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