All of the Following Statements Regarding the Double-Entry System Are

question 160

Multiple Choice

All of the following statements regarding the double-entry system are true except

• A)a two-sided effect of each transaction is recorded in appropriate accounts when using the double-entry system.
• B)the double-entry system provides a logical method for recording transactions.
• C)both sides of the accounting equation must be affected when recording a transaction using the double-entry system.
• D)when using the double-entry system, the sum of all debits to the accounts must equal the sum of all credits.

---

Definitions:

McDonald's

A global fast-food chain that is recognized for its burgers, fries, and franchising model, operating in numerous countries around the world.

Customer Inquiries

Questions or requests for information from customers about a company's products or services.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value to an organization.

Return on Investment

A financial metric that measures the profitability of an investment by dividing the gain from the investment by its cost.