A Double-Entry Accounting System Is an Accounting System

question 3

Multiple Choice

A double-entry accounting system is an accounting system:

• A)That records each transaction twice.
• B)That records the effects of transactions and other events in at least two accounts with equal debits and credits.
• C)In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits.
• D)That may only be used if T-accounts are used.
• E)That insures that errors never occur.

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Definitions:

Racism

Bias, unfair treatment, or hostility towards individuals of another race, stemming from the conviction that one's own race is superior.

Communication Model

A theoretical framework describing the process through which information is transmitted and received between communicators.

Key Elements

Primary or essential components or factors that are necessary for the functionality or success of a system, process, or concept.

Prejudice And Discrimination

The unjust or negative attitudes and behaviors directed toward individuals or groups based on preconceived notions rather than actual merit or factual evidence.