Internal Transactions Do Not Affect the Basic Accounting Equation Because

question 129

True/False

Internal transactions do not affect the basic accounting equation because they are economic events that occur entirely within one company.

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Definitions:

Central Nervous System

The complex system of nerves consisting of the brain and spinal cord that regulates and coordinates body activities.

Parasympathetic Nervous System

The parasympathetic nervous system is part of the autonomic nervous system responsible for conserving energy and bringing the body to a restful state after periods of stress or danger.

Somatic Nervous System

The part of the peripheral nervous system that handles voluntary control of body movements via skeletal muscles, and conveys sensory and motor information to and from the central nervous system.

Cognitive Appraisal

A mental process through which people evaluate the significance and meaning of events and situations for their well-being.