At the end of the period,the difference between the total credits and the total debits is the balance in the account.

Question

Quizplus · Accepted Answer

This statement is true. In double-entry accounting, each transaction affects at least two accounts - one account is debited and the other is credited. The sum of all the debits must equal the sum of all the credits, and the difference between the two is the balance in the account.

At the End of the Period,the Difference Between the Total