Multiple choice

Directions: Choose the correct option for the given question:

In cost ledger accounting, transactions are recorded on the basis of

  1. double entry

  2. single entry

  3. incomplete records

  4. accounting conventions

  5. GAAP
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Cost ledger accounting, like financial accounting, follows the double entry system where every transaction has a debit and a credit entry to maintain the accounting equation.

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