In Recording an Accounting Transaction in a Double-Entry System

question 42

Multiple Choice

In recording an accounting transaction in a double-entry system,

• A)the number of accounts to be debited must equal the number of accounts to be credited.
• B)there must always be entries made on both sides of the accounting equation.
• C)the amount of the debits must equal the amount of the credits.
• D)there must only be two accounts affected by any transaction.

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Definitions:

Manufacturers

Companies or individuals that produce finished goods from raw materials through the use of various processes, equipment, and operations.

Sales Promotion

A marketing technique used to boost sales and attract customer attention through special offers, discounts, or other incentives.

Promotional Spending

Funds allocated by a business towards advertising, public relations, and sales promotions to increase brand awareness and sales.

Sales Promotion

Sales promotion consists of short-term incentives to encourage the purchase or sale of a product or service.