In the double-entry system, debits must always equal credits.
举一反三
- Double-entry accounting is an accounting system: () A: That records each transaction twice. B: That records the effects of transactions and other events 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 may only be used if T-accounts are used.
- The essential point of the 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: increase one ledger account and decrease another. D: affects two or more ledger accounts and is recorded by an equal amount of debits and credits.
- How many credits should the man obtain to get a master’s degree A: Twenty-four credits. B: Twelve credits. C: Three Credits. D: Thirty-six credits.
- The intersection of two mutually exclusive events must always be equal to 0.
- In a double-entry accounting system