In Recording an Accounting Transaction in a Double-Entry System

question 184

Multiple Choice

In recording an accounting transaction in a double-entry system

• A) the number of debit accounts must equal the number of credit accounts.
• B) there must always be entries made on both sides of the accounting equation.
• C) the amount of the debits must equal the amount of the credits.
• D) there must only be two accounts affected by any transaction.

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Definitions:

Common Information Effect

this phenomenon occurs when group members tend to focus and give more weight to information that everyone in the group knows, often at the expense of unique but possibly more valuable information.

Intervention

A deliberate process or action taken to improve a situation or address a problem within a team or organizational context.

Selective Exposure

The tendency to favor information or sources that reinforce existing beliefs, values, or attitudes, while avoiding contradictory information.

Role Assimilation

The process of adopting and internalizing the expectations, behaviors, and responsibilities associated with a particular social role within a group or society.