Multiple Choice
Which of the following statements is true of the double-entry bookkeeping system?
A) Depreciation is not considered when recording transactions under this system.
B) Only credit transactions are recorded under this system.
C) The system records only those transactions that bring in revenue.
D) The accounting equation is always kept in balance under the system.
E) A business does not run on a cash basis under the double-entry bookkeeping system.
Correct Answer:
Verified
Correct Answer:
Verified
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