Double-entry bookkeeping
13 practice questionsFinancial AccountingStep-by-step solutions
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1
In double-entry bookkeeping, every transaction affects how many accounts at minimum?
A.Two
B.One
C.Zero
D.Ten
2
In double-entry bookkeeping, every transaction affects at least:
A.One account
B.Two accounts
C.Three accounts
D.No accounts
3
In double-entry bookkeeping, a debit entry to an asset account:
A.Decreases the asset
B.Increases the asset
C.Has no effect
D.Records a liability
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