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 50 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?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

For a complete list of videos, visit our video library