Double-entry bookkeeping is a system of recording and classifying business transactions
A) in separate accounts in order to maintain the accounting equation.
B) by the amount of the transaction.
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 is a system of recording and classifying business transactions as a liability or owners equity,as well as an asset in order to maintain the accounting equation.

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