Which of the Following Is Not True with a Double-Entry

question 72

Multiple Choice

Which of the following is not true with a double-entry accounting system?

• A) The accounting equation remains in balance.
• B) The sum of all debits is always equal to the sum of all credits in each journal entry.
• C) Each business transaction will have two debits.
• D) Every transaction affects at least two accounts.

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Definitions:

Argentina

A country in South America, known for its diverse landscapes from the Andes mountains to the plains of Patagonia, rich cultural history, and contributions to literature, dance, and sports.

Cultural Value

Cultural value refers to the beliefs, norms, and practices that are considered important within a cultural group, guiding their behavior and decision making.

Group Membership

The state or fact of being a part of a group or collective, which involves certain rights and responsibilities.

Personality Development

The growth and changes in an individual's character and behavioral traits over time, shaped by both genetic factors and environmental influences.