When Recording Transactions in Two or More Accounts and the Totals

question 94

Multiple Choice

When recording transactions in two or more accounts and the totals of the debits and credits are equal, it is called:

• A) debiting.
• B) crediting.
• C) balancing.
• D) double-entry bookkeeping.

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Definitions:

Earnings-At-Risk

The portion of an organization's earnings that could potentially be lost due to risks not adequately managed.

Pay Plans

Structured compensation schemes designed by organizations to remunerate employees, including salaries, wages, bonuses, and commissions.

Base Pay

The initial salary paid to an employee, not including any extra bonuses, benefits, or raises.

Merit Pay

A compensation strategy where employees receive salary increases or bonuses based on their performance evaluations, aimed at rewarding high-quality work.