Double-Entry Accounting Is an Accounting System

question 223

Multiple Choice

Double-entry accounting is an accounting system:

• A)That records each transaction twice.
• B)That records the effects of transactions and other events in at least two accounts with equal debits and credits.
• C)In which the impact of each transaction is checked twice to ensure there are no errors.
• D)That may only be used if T-accounts are used.
• E)That records the effects of transactions on at least two financial statements.

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Definitions:

Cognitive Assessment

The process of measuring an individual's mental functions and abilities, typically involving tests or evaluations of memory, reasoning, attention, and language skills.

Concurrent Evaluations

A process where multiple assessments or evaluations are conducted at the same time to compare outcomes, effectiveness, or other variables.

Retrospective Evaluations

Assessments or reviews of past events or actions to judge their efficacy or significance.

Attribution Retraining

A cognitive-behavior modification intervention based on the theory that students’ causal explanations for why they are performing well or poorly have implications for their behavioral persistence, expectancies for future performance, and emotional reactions to success and failure. The goal of attribution retraining is to increase students’ behavioral persistence while performing tasks.