A Double-Entry Accounting System Is an Accounting System

question 3

Multiple Choice

A double-entry accounting system 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 each transaction affects and is recorded in two or more accounts but that could include two debits and no credits.
• D)That may only be used if T-accounts are used.
• E)That insures that errors never occur.

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