When Recording Transactions in T-Account Format, We Must Add an Additional

question 43

Multiple Choice

When recording transactions in T-account format, we must add an additional step to the transaction analysis process. Which of the following is the additional step?

• A) Determine if the affected accounts are increased or decreased by the transaction.
• B) The accounting equation must remain in balance after each transaction.
• C) We must have equal debits and credits once the entry is recorded in the accounts.
• D) Determine what accounts and elements in the equation are affected by the transaction.

---

Definitions:

Attention Deficit Disorder

A mental health disorder characterized by a persistent pattern of inattention and/or hyperactivity-impulsivity that interferes with functioning or development.

Control Drug

Control Drug often refers to a regulated substance whose manufacture, possession, and use are governed by law due to the potential for abuse or harm.

Central Tendency

A statistical measure that identifies a single value as representative of the middle or center of a distribution of data.

Mean

A statistical measure representing the arithmetic average of a set of numbers, calculated by adding all the numbers and dividing by the count of those numbers.