Multiple Choice
The equality of debits and credits is the basis for
A) the double-entry accounting system.
B) the single-entry accounting system.
C) the T account.
D) all accounting systems.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q42: A paid income tax instalment<br>A) increases assets
Q43: An accountant has debited an asset account
Q44: An accountant has debited an asset account
Q46: A general ledger should be arranged in
Q47: The left side of a T account
Q48: An investment by the shareholders in a
Q50: Recording revenue<br>A) increases assets and liabilities.<br>B) increases
Q51: If total liabilities increased by $22,500, then<br>A)
Q108: A decrease in a liability account is
Q120: The retained earnings on the trial balance