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.

---

Definitions:

Financial Services

A broad range of services including banking, investment, insurance, and other fiscal transactions that are managed or offered by financial institutions.

Affordability Trap

A situation where individuals or families are unable to save for the future or improve their socio-economic status due to high living costs relative to their income.

Base-Of-The Pyramid Markets

Economically disadvantaged segments that represent a large, but often underserved, group of consumers at the bottom of the economic pyramid.

Reverse Innovation

The process of taking innovations developed in emerging markets and repackaging them for developed markets.