The System Where Every Transaction Affects at Least Two Components

question 57

Multiple Choice

The system where every transaction affects at least two components of theaccounting equation is known as:

• A) historical cost accounting.
• B) the going concern system.
• C) the accounting entity system.
• D) double-entry accounting.

---

Definitions:

Liking

A positive feeling towards someone or something, reflecting appreciation or affection.

Accepting

Being willing or able to tolerate or consent to a wide range of behaviors, beliefs, or practices without objection.

Role Model

An individual admired for their qualities or achievements, who serves as an example for others to emulate.

Mentor

An experienced and trusted advisor who provides guidance, support, and advice to a less experienced person, often in a professional context.