What Is Double-Entry Accounting

question 106

Multiple Choice

What is double-entry accounting?

• A) An accounting system that disregards the accounting equation, A = L + E
• B) An accounting system that records the effects of transactions and other events in at least two accounts with equal debits and credits
• C) An accounting system in which each transaction affects and is recorded in two or more accounts with unequal debits and equal credits
• D) An accounting system in which the sum of the debit account balances never equals the sum of the credit account balances
• E) An accounting system in which errors never occur

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