Double-entry accounting requires that the impact of each transaction be recorded in at least two accounts.

Name: Double-entry accounting requires that the impact of each transaction be recorded in at least two accounts.
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Double-entry accounting is based on the principle that every transaction has two effects, and therefore should be recorded in at least two accounts: a debit and a credit. This ensures accurate and balanced financial records.

Double-Entry Accounting Requires That the Impact of Each Transaction Be