Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. double-entry accounting is an accounting system: t

Double-entry accounting is an accounting system: That records each transaction twice. That records the effects...

50.1K

Verified Solution

Question

Accounting

Double-entry accounting is an accounting system: That records each transaction twice. That records the effects of transactions and other events in at least two accounts with equal debits and credits. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. That may only be used if T-accounts are used. That ensures that errors never occur

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Which of the current asset management category, as a finance manager would you focus on and...

Finance
Q

Why does the author mention DNA-sequencing in the essay "Clinical Testing on Animals"? Perhaps scientists...

Biology
Q

12 resistors arranged symmetrically in shape of bipyramid ABCDEF Here ABCD is a square Point...

Physics
Q

9 Two vessels A and B have the same base area ar contain water to...

Physics
Q

The center of the circle is C Find each measure using the appropriate theorems and...

Geometry
Q

Consider the given set operation Let U 1 2 3 4 5 6 7 8...

Basic Math
Q

32 f x 18 fit x 3 Ay 8 2 6 4 2 2 8...

Algebra
Q

Pieserited here are selected transactions for Nonis Company during July. Norris uses the perpetual inventory...

Accounting
Q

A Government issued $10,000,000 of general government, general obligation, 5%, 30 year bonds at 3%...

Accounting
Q

Q1. An amount of $80,000 was invested for 5 years. Compute its interest at the...

Accounting
Q

Mr. And Mrs. Claus have two children. The ages of the children are 3 and...

Accounting
Q

Answer these questions, please! A company is considering investing in a project that...

Finance