The accounting system requires that the current account and the financial account sum to ________.

Question

Quizplus · Accepted Answer

The accounting system follows the principle of double-entry bookkeeping, which means that every transaction should be recorded in two accounts - the current account and the financial account. As per this principle, the total amount in the debit column of the current account should always equal the total amount in the credit column of the financial account and vice versa. Thus, both accounts should balance, and their sum should be zero. Therefore, the correct choice is A.

The Accounting System Requires That the Current Account and the Financial