The double-entry system requires that each transaction must be recorded
A)in at least two different accounts.
B)in a T account.
C)first as a revenue and then as an expense.
D)twice.

Name: The double-entry system requires that each transaction must be recorded A)in at least two different accounts. B)in a T account. C)first as a revenue and then as an expense. D)twice.
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Question

Quizplus · Accepted Answer

The double-entry system requires that each transaction affects at least two different accounts to keep the accounting equation balanced.

The Double-Entry System Requires That Each Transaction Must Be Recorded