The Double-Entry Accounting System Means

question 6

Multiple Choice

The double-entry accounting system means

• A)Each transaction is recorded with two journal entries.
• B)Each item is recorded in a journal entry, then in a general ledger account.
• C)The dual effect of each transaction is recorded with a debit and a credit.
• D)More than one of the above.

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Definitions:

Different Job

A position of employment that varies or differs from one's current or previous role, often involving new responsibilities or a change in field.

Responsibility

The state or fact of being accountable or to blame for something, entailing a duty to deal with tasks or control over someone or something.

Delegation

The act of entrusting tasks or responsibilities to subordinates in an organization, empowering them while freeing up higher-level individuals for strategic planning.

Leadership Skill

Refers to the ability of an individual to guide, inspire, and influence the behavior and work of others towards achieving specific goals in a given situation.