"The total equals the sum of the parts"means that the total income charged to individual account-receivable folios should equal the total of charged sales recorded for that particular department.

Question

Quizplus · Accepted Answer

This statement reflects the accounting principle of accuracy and consistency, where the total income charged to individual accounts (the parts) should indeed match the total charged sales recorded for a department (the total), ensuring that all transactions are properly accounted for.

"The Total Equals the Sum of the Parts"means That the Total