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:

Vague Explanations

Descriptions or reasons that are unclear, imprecise, and lacking in detail.

Clarification

The process of clarifying a statement or situation to make it easier to understand.

Explicit

Something stated clearly and in detail, leaving no room for confusion or doubt.

Helper

Someone who provides assistance or support to others, often in contexts of care, support services, or informal helping relationships.