Question 15. Question :
accounting system:
Double-entry accounting is an
That records each transaction twice
That records the effects of transactions
and other events in at least two accounts with equal debits and
credits
In which the impact of each transaction is
recorded in two or more accounts but that could include two
debits and no credits
That may only be used if T-accounts are
used
That insures that errors never occur
Question 16. Question :
activity is:
An example of a financing
Buying office supplies
Obtaining a long-term loan
Buying office equipment
Selling inventory