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(a)Why is it important to connect with more people in your profession or trade? (b)List three ways to get connected.
Economic Events
Transactions and occurrences that have a direct impact on the financial position of a company, including buying, selling, and financing activities.
Recording
The process of documenting financial transactions in the accounting records of a business.
Owner's Equity
The residual interest in the assets of an entity after deducting liabilities.
Drawings
Withdrawals of cash or other assets from a company by its owner(s) for personal use, reducing the capital account.
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