Double-entry booking states that every accounting transaction must have an offsetting transaction.

Name: Double-entry booking states that every accounting transaction must have an offsetting transaction.
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Double-entry booking is a fundamental accounting principle that states that for every debit entry, there must be a corresponding credit entry, and vice versa, to maintain the balance of accounts. Therefore, every transaction must have an offsetting transaction.

Double-Entry Booking States That Every Accounting Transaction Must Have an Offsetting