Every Accounting Transaction Involves an Increase in at Least One

question 72

True/False

Every accounting transaction involves an increase in at least one account and a decrease in at least one other account.

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Definitions:

Functional

Pertaining to the way in which something operates or performs its duty, often implying effectiveness and efficiency.

Retail Warehouse Store

A type of retail store that combines aspects of warehousing and retail selling, often offering products in bulk or at discounted prices.

Adjacent Gas Station

A term potentially referring to gas stations located near each other, often in a competitive proximity to attract more customers through convenience.

Multinational Conglomerate

A large corporation that owns a variety of companies in different industries and countries.