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CHAPTER 3 The Accounting Information System Assignment Classification Table Study Objectives Questions BriefExercises Exercises AProblems BProblems 1. Analyse the effect of business transactions on the basic accounting equation. 1, 2, 3 1 1, 2, 3, 4, 13 1A, 2A 1B, 2B 2. Explain what an account is and how it helps in the recording process. 4 3. Define debits and credits and explain how they are used to record business transactions. 5, 6, 7, 8, 9, 10, 11, 12, 13 2, 3 5, 6 3A, 4A 3B, 4B 4. Identify the basic