Double-Entry Accounting Means That Each Transaction

question 55

Multiple Choice

Double-entry accounting means that each transaction:

• A)increases at least one account and decreases at least one account.
• B)debits at least one account and credits at least one account.
• C)is recorded in both the journal and in the ledger.
• D)affects both an income statement account and a balance sheet account.

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Definitions:

Human Subjects

Individuals who participate in research studies or experiments involving testing, data collection, or observation.

Federal Regulations

Laws governed at the national level that set forth rules and standards to control or govern behavior within its borders.

Stratified Sample

A method of sampling that involves dividing a population into subgroups and then taking a sample from each subgroup to ensure representation.

Adult Population

Refers to the segment of society that includes individuals considered legally adults, typically over the age of 18.