For each transaction,there must be at least one debit amount and one credit amount.

Name: For each transaction,there must be at least one debit amount and one credit amount.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is a fundamental principle of double-entry accounting. Every transaction must have at least one account that is debited and at least one account that is credited. This ensures that the accounting equation (assets = liabilities + equity) remains in balance.

For Each Transaction,there Must Be at Least One Debit Amount