The equality of debits and credits is the basis for
A)the double-entry accounting system.
B)the single-entry accounting system.
C)the T account.
D)all accounting systems.

Question

Quizplus · Accepted Answer

The double-entry accounting system is based on the principle that for every debit entry, there must be a corresponding credit entry, ensuring the accounting equation remains balanced.

The Equality of Debits and Credits Is the Basis for