How Many of the Following Statements About the Double-Entry System

question 43

Multiple Choice

How many of the following statements about the double-entry system are true?
i. The accounting equation should stay in balance
ii. At least one account should be debited and one account credited
iii. Credits should always be entered into the journal before debits

• A) 3
• B) 2
• C) 1
• D) 0

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Definitions:

Epinephrine

An injectable medication used to treat anaphylaxis by causing vasoconstriction to increase blood pressure. Also, a hormone secreted from the adrenal glands. It increases heart rate, breathing rate, and blood pressure.

Nitroglycerin

A medication used to treat and prevent chest pain (angina) by dilating blood vessels and reducing heart workload.

Gauge

A measurement of the thickness or size of various objects, notably the diameter of a wire, body thickness, or the bore of a firearm.

Needles

Thin, cylindrical objects made of metal or plastic, designed for various purposes including sewing, medical injections, and as components of medical devices.