Which of the Following Statements Is TRUE of the Double-Entry

question 57

Multiple Choice

Which of the following statements is TRUE of the double-entry bookkeeping system?

• A) Depreciation is not considered when recording transactions under this system.
• B) Only credit transactions are recorded under this system.
• C) The system records only those transactions that bring in revenue.
• D) The accounting equation is always kept in balance under the system.
• E) A business does not run on a cash basis under the double-entry bookkeeping system.

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Definitions:

EMG

A medical procedure known as electromyography is utilized to examine the well-being of muscles and their controlling nerve cells.

Astigmatism

A common visual condition where the cornea's irregular shape causes blurred vision due to uneven light reflection.

Emmetropic

Pertaining to the normal refractive condition of the eye where light is focused directly on the retina, resulting in clear vision at all distances.

Hyperopic

A term describing a condition of the eye where distant objects can be seen clearly, while close objects appear blurred, also known as farsightedness.