Which of the Following Is Not True with a Double-Entry

question 72

Multiple Choice

Which of the following is not true with a double-entry accounting system?

• A) The accounting equation remains in balance.
• B) The sum of all debits is always equal to the sum of all credits in each journal entry.
• C) Each business transaction will have two debits.
• D) Every transaction affects at least two accounts.

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Definitions:

Accounting Project

A task or series of tasks undertaken to maintain, review, or improve the financial recording and reporting processes within an organization or for a specific purpose.

Objectives Project

A planned set of tasks aimed at achieving specific goals within a defined timeframe, usually with set objectives to guide its execution.

Specific Objective

A precise and measurable goal that an entity aims to achieve.