Multiple choice

Recording the dual effects of transactions in accounting is also called...

  1. Single entry accounting

  2. Dual entry accounting

  3. Compound entry accounting

  4. Debit/Credit accounting
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Double-entry accounting is the system where every financial transaction affects at least two accounts to keep the accounting equation in balance. The other terms are either incorrect or descriptive of specific entry types rather than the system itself.

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