All business transactions involve an increase in at least one account and a decrease in at least one other account.

Name: All business transactions involve an increase in at least one account and a decrease in at least one other account.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

Not all business transactions involve both an increase and a decrease in accounts. Some transactions may only increase or decrease accounts, such as when a company receives cash for a service, increasing cash and revenue accounts without decreasing any other account.

All Business Transactions Involve an Increase in at Least One