Double-Entry Accounting Is Characterized by Which of the Following

Multiple Choice

Double-entry accounting is characterized by which of the following?

A) Every transaction affects both an asset account and either a liability account or an equity account.
B) The number of ledger accounts with debit balances is equal to the number with credit balances.
C) The total dollar amount of debit entries posted to the ledger is equal to the dollar amount of the credit entries.
D) The number of debit entries posted to the ledger equals the number of credit entries.