Multiple Choice
The double-entry system requires how many of the following to be true?
i.At least one account should be debited and one account credited
ii.Total debits should equal total credits
iii.The accounting equation should stay in balance
A) 0
B) 1
C) 2
D) 3
Correct Answer:
Verified
Correct Answer:
Verified
Q32: Which of these events would not be
Q35: The correct classification for these ledger
Q36: P_ is the process of transferring entries
Q37: Accounts in the general _ are organised
Q38: Select the account types for these items:<br>? Repairs
Q39: The event that may be recorded in
Q42: A chronological record of all the transactions
Q43: Which statement relating to the general journal
Q44: The liability account recording GST collected by
Q45: Select the account types for these items:<br>? Prepaid