In Which Type of Bookkeeping System Is Every Transaction Posted

question 50

Multiple Choice

In which type of bookkeeping system is every transaction posted into two different records, once as a credit and one as a debit?

• A) Pegboard bookkeeping system
• B) Single-entry bookkeeping system
• C) Double-entry bookkeeping system
• D) Medical office computer billing bookkeeping system

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Definitions:

Net Operating Income Variance

The difference between the actual net operating income and the budgeted or forecasted net operating income, used to assess a business's performance.

Wells Serviced

The number of oil or gas wells undergoing maintenance, repair, or installation services over a period, often indicating the performance level of a service company in the energy sector.

Flexible Budget

A budget designed to adapt based on fluctuations in activity levels or volume.

Servicing Materials

Materials used in the maintenance and repair of products or equipment, not typically included in the direct costs of manufacturing the product.