Determining the debit and credit parts of a transaction is called _______________.

Analyzing business transaction

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Classifying the transaction

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Summarizing

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Interpreting

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Solution

The correct option is A Analyzing business transaction
Before passing any accounting entry in journal, this has to identify that which account need to be debited and credited. For this, analysis of the business transaction is must which is done on the basis of nature of transaction.

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Determining the debit and credit parts of a transaction is called _______________.

The correct option is A Analyzing business transactionBefore passing any accounting entry in journal, this has to identify that which account need to be debited and credited. For this, analysis of the business transaction is must which is done on the basis of nature of transaction.

The correct option is A Analyzing business transaction
Before passing any accounting entry in journal, this has to identify that which account need to be debited and credited. For this, analysis of the business transaction is must which is done on the basis of nature of transaction.