 | Chapter Objectives
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Learning Objectives are classified as conceptual, analytical, or procedural.
| Conceptual | - Explain the steps in processing transactions.
- Describe source documents and their purpose.
- Describe an account and its use in recording transactions.
- Describe a ledger and a chart of accounts.
- Define debits and credits and explain double-entry accounting..
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| Analytical | - Analyze the impact of transactions on accounts and financial statements.
- Compute the debt ratio and describe its use in analyzing financial condition.
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| Procedural | - Record transactions in a journal and post entries to a ledger.
- Prepare and explain the use of a trial balance.
- Prepare financial statements from business transactions.
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