Multiple Choice
The system of accounting in which there are at least two accounts affected in every transaction so that the accounting equation stays in balance is called
A) debit.
B) credit.
C) double-entry.
D) full disclosure.
Correct Answer:

Verified
Correct Answer:
Verified
Q140: The bookkeeper prepared the following journal entries
Q141: Payment is made for machinery purchases previously
Q142: Which of the following accounts is increased
Q143: The process of transferring amounts from the
Q144: A novelties company makes cash sales to
Q146: Credit entries are used to<br>A)increase asset accounts.<br>B)increase
Q147: An accounting transaction may impact only one
Q148: Hesson Properties, Inc.The following transactions occurred during
Q149: The principle of conservatism is concerned with<br>A)the
Q150: A credit means<br>A)the event had a favorable