Which of the following statements is true?

Question

Quizplus · Accepted Answer

Double-entry accounting systems have been used since at least the time of the Roman Empire, which dates back over 2,000 years. Therefore, statement C is the only true statement. A is incorrect because double-entry accounting was used even before a money economy existed. B is incorrect because accounting systems existed in earlier times when not everyone was literate. D is incorrect because the double-entry accounting system was already well established before the Great Depression occurred.

Which of the Following Statements Is True