A Double-Entry Accounting System Is an Accounting System

Multiple Choice

A double-entry accounting system is an accounting system:

A) That records each transaction twice.
B) That records the effect of each transaction in at least two accounts with equal debits and credits.
C) In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits.
D) That allows total credits to be greater than total debits.
E) That allows total debits to be greater than total credits.