The double entry system of accounting ensures that all the debits will equal all the credits in an entry.
Correct Answer:
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Q7: The use of different accounts is necessary
Q8: For transactions to be recorded correctly, debits
Q9: The accounting cycle is a series of
Q10: A debit to an asset account indicates
Q11: An account can have debit entries and
Q13: The normal balance for the cash account
Q14: Transactions are entered in the trial balance
Q15: The normal balance of a revenue account
Q16: The first step in the recording process
Q17: The normal balance in an asset account
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