A Double Rule Applied to Accounts in the Ledger During

question 131

Multiple Choice

A double rule applied to accounts in the ledger during the closing process implies that

• A) the account is an income statement account.
• B) the account is a statement of financial position account.
• C) the account balance is not zero.
• D) a mistake has been made, since double ruling is prescribed.

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Definitions:

Drilling

The act of repeated practice or intense study, often used in educational or training contexts to instill knowledge or skills into memory through repetition.

Moral Actions

Actions that are evaluated as right or wrong based on ethical principles or societal norms.

Degree

A unit of measurement of angles or a level of achievement in education, often conferred by a university or college as evidence of completion of a course of study.

Intent

A determined purpose or aim; the intention behind an action.