For the Basic Accounting Equation to Stay in Balance, Each

question 33

Multiple Choice

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

• A)affect two or fewer 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:

Tyrannical

Exercising power in a cruel or arbitrary way; often associated with dictatorial leadership.

Stanley Milgram

Stanley Milgram was a psychologist best known for his landmark experiments on obedience to authority figures, conducted in the 1960s.

Obedience

The act of following orders or directions from an authority figure without question.

Learner

An individual engaged in acquiring knowledge, skills, attitudes, or competencies from study, instruction, or experience.