A Double Rule Applied to Accounts in the Ledger During

question 131

Multiple Choice

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

• A) the account is an income statement account.
• B) the account is a statement of financial position account.
• C) the account balance is not zero.
• D) a mistake has been made, since double ruling is prescribed.

---

Definitions:

Condense

In mathematics, to simplify an expression or equation by combining like terms or using algebraic methods to make it more compact.

Solve

To find the value or values of the variables that satisfy an equation, inequality, or a system of equations.

Equation

A mathematical statement that asserts the equality of two expressions, usually denoted by the sign =.

Calculator

An electronic or mechanical device used for performing mathematical calculations.