Answer:
No
Step-by-step explanation:
No, it is not true. While the double-entry system is an important and widely used method in accounting, there is evidence of accounting practices dating back to ancient civilizations such as the Babylonians and Egyptians. The ancient Greeks and Romans also had various forms of accounting and record-keeping. However, the double-entry system as we know it today was first described by Italian mathematician Luca Pacioli in his book "Summa de Arithmetica, Geometria, Proportioni et Proportionalità" in the 15th century.