Which of the Following Statements About Double-Entry Bookkeeping Is True

question 12

Multiple Choice

Which of the following statements about double-entry bookkeeping is true?

• A) The double-entry principle is referred to as accrual accounting.
• B) For each transaction or economic event the total amount debited must equal the total amount credited.
• C) If one account is increased, then another account must be decreased.
• D) The total number of accounts debited must equal the total number of accounts credited.

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Definitions:

Variance

A statistical measure of the dispersion of data points in a data set, indicating how far each data point is from the mean.

Population

In biology, it refers to all the organisms of the same group or species who live in a particular geographical area and are capable of interbreeding.

Monozygotic Twins

Twins that result from the division of a single fertilized egg and share all of their genetic material, often referred to as identical twins.

Similar

Having likeness or resemblance, especially in terms of qualities or characteristics.