Which One of the Following Is a Characteristic of the Double

question 33

Multiple Choice

Which one of the following is a characteristic of the double entry system?

• A) For every debit in every account, there must be a corresponding credit of the same dollar amount in the same account.
• B) The total dollar value of debits must equal the total dollar amount of the credits in most of the accounts.
• C) For every asset recorded in the accounting records, there must be a corresponding liability of the same dollar amount.
• D) The total dollar amount of debits must equal the total dollar amount of the credits.

Recognize the automatic provision of warranties of title in sales transactions and implications of breaching these warranties.

Evaluate how sellers can disclaim or modify warranties and when such disclaimers or modifications are effective.

Identify the nature of puffery and its distinction from express warranties.

Understand the legal remedies available for breach of warranty.

---

Definitions:

Reader Benefit

The advantage or positive outcome that a reader gains from consuming written material, making the communication relevant to their needs or interests.

Subjunctive Verbs

Refers to a verb mood used to express various states of unreality such as wish, emotion, possibility, judgement, opinion, necessity, or action that has not yet occurred.

Intrinsic Reward

A type of motivation that comes from within an individual, driven by personal satisfaction or the joy of doing something.

Commendable Work

Actions, efforts, or results deserving praise or recognition for quality or achievement.