The double-entry system
A)requires that each transaction be recorded with at least one debit and one credit.
B)requires that the total amount of the debits must always equal the total amount of the credits.
C)is based on the principle of duality.
D)All of these choices.

Question

Quizplus · Accepted Answer

The double-entry system requires that each transaction be recorded with at least one debit and one credit, the total amount of the debits must always equal the total amount of the credits, and it is based on the principle of duality. Therefore, all of these choices are correct.

The Double-Entry System