In Accounting, Every Transaction Must Be Recorded as Two Entries

question 140

Multiple Choice

In accounting, every transaction must be recorded as two entries.This system is called:

• A)accounting-cycle bookkeeping
• B)double-entry bookkeeping
• C)dual-notation bookkeeping
• D)double-decker bookkeeping
• E)tandem record keeping

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Definitions:

Observable Culture

The visible elements of an organization's culture, such as rituals, symbols, behaviors, and physical settings that can be seen and understood by outsiders.

Implicit Culture

The unspoken, unwritten set of beliefs and behaviors shared by a group of people, influencing their actions and decisions without explicit acknowledgment.

European Firms

Companies or businesses that are based in Europe, characterized by diverse management practices influenced by different cultures and economic systems.

Subcultures

Groups within a larger culture that have their own distinct norms, values, and practices but share some commonalities with the larger culture.