Discussion Post
Describe the difference between current and long-term assets and liabilities. Why do you think it is important for assets and liabilities to be distinguished in terms of current and long-term?
Each financial transaction in a business has what is called a "dual effect" on the accounting equation. Explain this term and give an example of a financial transaction and how it affects each account.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.