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Of the following,which is one of the central principles recommended in this chapter for a firm organizing itself for international business?
Debits
Accounting entries that increase assets or expenses or decrease liabilities, equity, and revenue.
Double-entry Accounting System
An accounting technique which records each transaction as both a credit and a debit in different accounts, ensuring the accounting equation remains balanced.
Journal
A record where all financial transactions are initially documented in chronological order.
Record
The act of documenting business transactions in the financial books of a company.
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