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For example, when a business purchases a new asset worth $1,000 on credit, the amount would be entered as a debit in the equipment (asset) account and a credit in the accountspayable (liability) account. A transaction is a business event with a financial impact on an organization’s financial statement.
Examples of events that the healthcare manager needs to react quickly to include:-. These actions allow the organization to plan for the future for unforeseen events or react to current or past events. Such collaboration also shows that healthcare organizations invest in staffing in their practice at every level.
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