The System of Accounting Where Each Transaction Effects Two or More

question 9

Multiple Choice

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

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

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Definitions:

Ayatollah

A high-ranking title in the Islamic clerical system, especially in Shia Islam, denoting a leading authority on religious laws and theology.

Supreme Governor

A title often used to denote the highest leader or authority within certain organizations, realms, or countries, particularly in a ceremonial or constitutional context.

Nations

Nations are large groups of people who share a common identity, history, culture, or language, often inhabiting a specific territory and recognizing a singular political sovereignty.

Internalized Control

A psychological process where individuals regulate their own behavior through internalized standards and norms.