For the Basic Accounting Equation to Stay in Balance Each

question 55

Multiple Choice

For the basic accounting equation to stay in balance each transaction recorded must

• A) affect two or less accounts.
• B) affect two or more accounts.
• C) always affect exactly two accounts.
• D) affect the same number of asset and liability accounts.

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Definitions:

Fixation Time

The amount of time spent looking at a visual stimulus.

Visual Stimulus

Any external object or event that is seen and which can influence a person's behavior or emotions.

Crystallized Intelligence

The ability to utilize acquired knowledge and experience.

Vocabulary

The set of words within a language that are familiar to an individual.