An Accounting System in Which Every Business Transaction Is Recorded

question 6

Multiple Choice

An accounting system in which every business transaction is recorded in an asset account, a liability account, or an owner's equity account in order for the system to balance is known as which of the following?

• A) double-entry accounting
• B) open-book accounting
• C) managerial accounting
• D) cost accounting

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Definitions:

Phenomenologists

Researchers or philosophers who study the structures of experience and consciousness from a first-person perspective.

Deviance

refers to behaviors or actions that violate social norms or values.

Problematic

Describes something that presents a problem or difficulty, often requiring a solution or intervention.

Phenomenologists

Philosophers who study the structures of experience and consciousness to understand the phenomena of human life.