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.
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.
举一反三
- 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.
- The double-entry system requires that each transaction must be recorded ( ) A: in at least two different accounts B: in two sets of books C: in a journal and a ledger D: first as a revenue and then as an expense
- In the double-entry system, debits must always equal credits.
- Translate the following sentence into Chinese. "Double-entry bookkeeping is an accounting technique which records each transaction as both a credit and a debit."
- A journal gives a complete record of each transaction in one place, and shows the debits and credits for each transaction.