Double-entry accounting is best characterized as:
A) The number of debit entries posted to the ledger equals the number of credit entries.
B) The number of ledger accounts with debit balances is equal to the number with credit balances.
C) Every transaction affects both an asset account and either a liability account or a stockholders' equity account.
D) The total dollar amount of debit entries posted to the ledger is equal to the dollar amount of the credit entries.

Question

Quizplus · Accepted Answer

Double-entry accounting ensures that for every transaction, the total debits equal the total credits in dollar amount, maintaining the accounting equation's balance.

Double-Entry Accounting Is Best Characterized As