This topic contains a solution. Click here to go to the answer

Author Question: Double-entry bookkeeping is a system of accounting in which: a. it is ideal for credits to be ... (Read 88 times)

KimWrice

  • Hero Member
  • *****
  • Posts: 579
Double-entry bookkeeping is a system of accounting in which:
 a. it is ideal for credits to be greater than debits.
  b. it is ideal for debits to be greater than credits.
  c. each transaction is recorded in the same account twice.
  d. only foreign and domestic accounts are used.
  e. the debit total must equal the credit total for the transactions as a whole.

Question 2

Double-entry bookkeeping for the balance of payments requires that:
 a. the current account always equal the balance of payments.
  b. every transaction be recorded as a credit and a debit at the same time.
  c. total credits always exceed total debits.
  d. every transaction be recorded as either a credit or a debit.
  e. total debits always exceed total credits.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaygar71

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

e

Answer to Question 2

b




jaygar71

  • Sr. Member
  • ****
  • Posts: 323

 

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

For a complete list of videos, visit our video library