Multiple Choice
In recording an accounting transaction in a double-entry system
A) the number of debit accounts must equal the number of credit accounts.
B) there must always be entries made on both sides of the accounting equation.
C) the amount of the debits must equal the amount of the credits.
D) there must only be two accounts affected by any transaction.
Correct Answer:

Verified
Correct Answer:
Verified
Q68: In the first month of operations, the
Q69: Transactions are entered in the ledger accounts
Q70: Which of the following are the same
Q71: On July 7, 2021, Hidden Camera Enterprises
Q72: The ledger should be arranged in<br>A)alphabetical order.<br>B)chronological
Q74: Under IFRS, the trial balance<br>A)follows the same
Q75: The journal provides a chronological record of
Q76: In the first month of operations for
Q77: The normal balance of any account is
Q78: All business transactions must be entered first