Multiple Choice
The essential point of double-entry system of accounting is that every transaction:
A) Affects accounts on both sides of the balance sheet.
B) Is recorded in both the journal and the ledger.
C) Increases one ledger account and decreases another.
D) Affects two or more ledger accounts and is recorded by an equal dollar amount of debits and credits.
Correct Answer:
Verified
Correct Answer:
Verified
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