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200 WORDS
This assignment has 3 parts:
Every business or organization must utilize accounting to record, summarize and report business transactions.
While the focus in this course is the use of accounting within a business, the same concepts can be used on a personal level.
How can you use accounting to manage your personal finances?
What are the benefits of keeping track of personal transactions – income and expenses – in an organized manner?
What are some of the possible risks if you don’t keep track of personal transactions?