Regarding the Double-Entry System,which of the Following Statements Is Incorrect

question 46

Multiple Choice

Regarding the double-entry system,which of the following statements is incorrect?

• A) A transaction would be incomplete if only one side were recorded.
• B) Because of technology, the use of the double-entry system of accounting is optional.
• C) The double-entry system is a system of accounting in which every transaction affects at least two accounts.
• D) If office supplies are purchased on account, the account Office Supplies increases and the account Accounts Payable increases.

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Definitions:

Comparisons

The process of evaluating two or more entities to determine their similarities or differences.

Sequential Search

A search algorithm that checks each element in a list one at a time until the desired element is found.

Key Comparisons

The process of comparing keys, which are identifiers, in algorithms or data structures to determine their relative order or equality.

Algorithm

A step-by-step procedure for calculations, data processing, and automated reasoning tasks.