Double-entry bookkeeping is a system of recording and classifying business transactions:
A)by the amount of the transaction.
B)in separate accounts in order to balance the accounting equation.
C)in all accounts including those that do not maintain the accounting equation.
D)in general ledgers.
E)in the same account.

Question

Quizplus · Accepted Answer

Double-entry bookkeeping involves recording each transaction in two separate accounts to ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

Double-Entry Bookkeeping Is a System of Recording and Classifying Business