The Term "Double- Entry Accounting" Indicates That the Accountant

question 111

Multiple Choice

The term "double- entry accounting" indicates that the accountant:

• A)uses both the general journal and the general ledger when recording transactions.
• B)computes the income statement and balance sheet effect of each transaction.
• C)records both sides of each transaction in the accounts affected.
• D)identifies both the cash inflows and the cash outflows.

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Definitions:

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A school of Mahayana Buddhism that emphasizes meditation and intuition rather than ritual worship or study of scriptures.

Rigorous Discipline

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