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:

Social Darwinist

A belief system that applies Darwin's theory of natural selection to society, suggesting that humans compete in a struggle for existence in which only the fittest survive.

Dawes Act

A 1887 U.S. law aimed at assimilating Native Americans into American society by distributing tribal lands to individual members.