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What Is the Best Definition of Double Entry Accounting

Question 8

Multiple Choice

What is the best definition of double entry accounting?

A) Double entry accounting is a newer method of recording exchanges in a transaction.It is invented to be used in a computerized accounting system.
B) Double entry accounting is used to record what is exchanged in a transaction.Each journal entry should balance,however,in rare circumstances some transactions will not balance.
C) Double entry accounting is used in conjunction with a journal to record what is exchanged in a transaction.Each journal entry must balance.
D) Double entry accounting is used in conjunction with the financial statements to provide a record of what is exchanged in a transaction.

Correct Answer: