The process of recording is done.
select one:
a. two times a year
b. once a year
c. frequently during the accounting period
d. at the end of the accounting period

D. At the end of the accounting period

D. At the end of the according period

Accounting defined : read more on:

A process involves the transferring of journal entries to the ledger accounts to bring together the effect of the transactions to the individual accounts of the company. read more on:

•Increase in assets= increase in owner’s equity

•Increase in assets= increase in liabilities

•Increase in some forms of assets= decrease in other forms of assets

•Decrease in assets= Decrease in owner’s equity

•Increase in some forms of Assets= Decrease in other forms of liabilities

•Increase in liabilities= decrease in capital

•Decrease in assets= decrease in liabilities

•Increase in owner’s equity= decrease in liabilities

•Increase in owner’s equity= decrease in liabilities

Transaction:

The equation should be :

Cash        

        Service Revenue      

Increased in equity and increase in assets

Explanation:

An entity will increase it's cash as considered as an asset and it will increase also it's service revenue as considered equity.

A business transaction can affect two accounts on the same side of the accounting equation and still leave the equation in balance. read more on: