A Double Rule (Double Underline) Applied to Accounts in the Ledger

question 223

Multiple Choice

A double rule (double underline) applied to accounts in the ledger during the closing process implies that

• A) the account is a temporary account.
• B) the account is a balance sheet account.
• C) the account balance is not zero.
• D) a mistake has been made, since double ruling is prescribed.

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Definitions:

Incidental Damages

Expenses or costs that arise indirectly from a breach of contract or other wrongdoing, which may be recoverable under the law.

Breach

The violation or non-fulfillment of a legal obligation, contract, or agreement.

Expenses

Monetary outlays or expenditures that individuals, businesses, or other entities incur during their operations, which may include costs related to goods, services, operations, or investments.

Cover

Protection or security provided by an insurance policy; or in finance, to deal with a position by buying or selling securities.