Do you think that a transaction can break the Accounting Equation?
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No, a transaction can only change the Accounting Equation but cannot break it.
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Ashok purchased goods from Delhi Traders for ₹ 2,00,000. As per the, if Ashok made full payment within 21 days, he will get cash discount at 2.5%. Ashok paid ₹ 1,50,000 within the stipulated time. How much discount will he get?
Proprietor of the firm has withdrawn goods for his personal use. The accountant has recorded it as sale in the books of accounts. Is he correct in doing so?