A Double-Entry Accounting System Is an Accounting System

question 201

Multiple Choice

A double-entry accounting system is an accounting system:

• A)That records each transaction twice.
• B)That records the effect of each transaction 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 allows total credits to be greater than total debits.
• E)That allows total debits to be greater than total credits.

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Definitions:

Animal-type Phobia

An intense, irrational fear of animals that can cause significant distress or impairment in social, occupational, or other important areas of functioning.

Social Anxiety Disorder

A chronic mental health condition where social interactions cause irrational anxiety, fear, self-consciousness, and embarrassment.

Agoraphobia

An anxiety disorder that involves an extreme or irrational fear of entering open or crowded places, leaving one's own home, or being in places from which escape might be difficult.

Natural Environment Type Phobia

Anxiety disorders characterized by excessive fear of specific natural environments or situations.