Double-entry accounting means that every transaction affects and is recorded in at least two accounts. True False
Question
Solution 1
Final Answer
True.
Double-entry accounting is a fundamental concept in accounting that ensures the accounting equation (Assets = Liabilities + Equity) remains balanced after every transaction. In this system, each financial transaction is recorded in at least two accounts: one account will Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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