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Author Question: Double-entry bookkeeping is a system of accounting in which: a. it is ideal for credits to be ... (Read 94 times)

KimWrice

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on: Jun 30, 2018
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.


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jaygar71

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


KimWrice

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Reply #2 on: Jun 30, 2018
Correct answers!


jaygar71

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Reply #3 on: Jun 30, 2018
Great! Please up vote :D


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