Question

In double-entry accounting, each transaction affects at least two accounts.
True or false

Answer 1

True! A double-entry accounting is a standard accounting method that involves recording each transaction in at least two accounts, resulting in a debit to one or more accounts and a credit to one or more accounts. The total amount of the transactions in each case must balance out, ensuring that all dollars are accounted for.

Step-by-step explanation:

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