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Which of the following indicates at least two accounts are affected by a transaction?

Normal balance

Debits

Credits

Double-entry system

User Aeluned
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6 votes

Answer:

Double-entry system

Step-by-step explanation:

The double-entry system is a book-keeping technique that records all transactions in at least two accounts. No upper boundary is set for the number of accounts that a transaction can be recorded. In double-entry accounting, each account has two columns, debit on the left and credit on the right side.

The concept of a double-entry accounting system is based on the fact that any transaction increases or decreases one side of the accounting equations and simultaneously decreases or increases the opposite side. The debit side must match the credit side for the account to balance.

User MastAvalons
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