With double-entry accounting, each transaction requires: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

A. that at least three accounts are affected.

B. that the total debits equal the total debits.

C. that at least two accounts are affected.

D. that the total debits will equal the total credits.

Question

Business

Miguel Figueroa

21 June, 16:21

With double-entry accounting, each transaction requires: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

A. that at least three accounts are affected.

B. that the total debits equal the total debits.

C. that at least two accounts are affected.

D. that the total debits will equal the total credits.

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Answers (1)

Know the Answer?

Jaidyn Figueroa · Answer 1

That at least two accounts are affected.

That the total debits will equal the total credits.

Answer: Options C and D.

Explanation:

In a double entry system, there are two accounts which are to be dealt with at the same time. Those two accounts or the two sides of the accounting are the debit side and the credit side. The debit side is on the right side of the table and the credit side is on the left side of the accounting table.

One entry made in the accounting table will affect both the sides of the table which means that one entry will affect debit side also and the credit side also of the table.