The System of Accounting Where Each Transaction Affects Two or More

question 8

Multiple Choice

The system of accounting where each transaction affects two or more accounts and the sum of the debit entries equals the sum of the credit entries is called:

• A) single transaction accounting.
• B) two-entry accounting.
• C) double-entry accounting.
• D) debit and credit accounting.

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Definitions:

Methods Section

The section of a report or survey describing how the data were gathered.

Technical Glitch

A small, unforeseen fault in a system or machine that causes a temporary setback.

Progress Report

A statement of the work done during a period of time and the work proposed for the next period.

Development Software

Tools, frameworks, and programs used in the process of creating, testing, and maintaining software applications or systems.