Ask Question
BusinessBusiness
27 March, 08:45

1. Why is a business transaction entered in at least two accounts?

+5
Answers (1)
  1. 27 March, 12:36
    0
    a business transaction is entered into two accounts because of the rules of credits and debits. every transaction affects at least two different accounts. So you must debit one account and credit another in order to satisfy the accounting equation.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “1. Why is a business transaction entered in at least two accounts? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Hyatt Hotels has installed automated check-in machines at some of its hotels. To check in and get a room key, guests insert a credit card into the machine.
Answers (1)
Linda Perkins (64) shared a home all year with her son, Dennis (41), and Dennis's son, Chase (20). Linda and Dennis worked full time and Chase was a part-time student. No one else lived in the home.
Answers (1)
If a perfectly competitive firm finds that price is less than average variable cost, it should: shut down immediately. increase output until price equals marginal cost. decrease output until price equals marginal cost.
Answers (1)
Select the statement that most accurately describes the role of emotion in communication: Emotions are present in everyone. Emotions can strongly influence how an audience reacts to a message.
Answers (1)
For one of his courses, tom has to read a book. He can read 1 page per minute. Tom's boss has agreed that tom could use his idle time for studying, as long as he drops the book as soon as a call comes in.
Answers (1)
New Questions in Business
Murphy company produces flash drives for computers, which it sells for $20 each. each flash drive costs $8 of variable costs to make. during april, 700 drives were sold. fixed costs for april were $4 per unit for a total of $2,800 for the month.
Answers (1)
Patti would like more information about product recalls. Which of the following resources would not be reliable and relevant?
Answers (1)
Consider the portfolio choice theory of money demand. how do you think the demand for money will be affected during a hyperinflation (i. e., monthly inflation rates in excess of 50%) ?
Answers (2)
In the bottom of the 9th inning in a tie game, the leadoff batter for the home team hits a double. According to researcher Tom Tango, teams in this situation have a win probability of 0.807.
Answers (1)
Ron shaich is describing how he and his team evaluated their different businesses and sold off some of them. according to the bcg matrix, which portfolio category should be analyzed for possible sale?
Answers (1)
Home » Business » 1. Why is a business transaction entered in at least two accounts?
Sign Up Forgot Password?