For the Basic Accounting Equation to Stay in Balance Each

question 55

Multiple Choice

For the basic accounting equation to stay in balance each transaction recorded must

• A) affect two or less accounts.
• B) affect two or more accounts.
• C) always affect exactly two accounts.
• D) affect the same number of asset and liability accounts.

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Definitions:

Reflective Thinking

The process of analyzing and evaluating one's experiences and actions to improve future responses.

Bodily Functions

Physiological activities of the body necessary for sustaining life, such as digestion, respiration, and reproduction.

Physical Function

A person's ability to perform tasks and activities that require physical effort, reflecting the overall state of physical health and wellness.

Intertwining Needs

The concept that human needs and desires are complexly interwoven, affecting each other in various ways rather than existing as separate and distinct elements.