The Fact That Each Transaction Has a Dual Effect on the Accounting

question 23

Multiple Choice

The fact that each transaction has a dual effect on the accounting equation provides the basis for what is called:

• A) single-entry accounting.
• B) double-entry accounting.
• C) compound-entry accounting.
• D) multiple-entry accounting.
• E) re-allocation of accounting.

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Definitions:

Sister

A female sibling or a woman who shares a close bond with another individual in a brotherly or sisterly context.

Pretending

The act of behaving in a way that is not genuine, or claiming to have feelings, thoughts, or conditions that are not actual, often as a form of play or to fulfill a particular purpose.

Psychologists

Professionals in the field of psychology, which encompasses the scientific study of the mind and behavior, including cognitive, emotional, and social processes.

Memories

Stored information and experiences in the brain that can be recalled.