For each transaction,the total debit amounts must equal the total credit amounts.

Name: For each transaction,the total debit amounts must equal the total credit amounts.
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Question

Quizplus · Accepted Answer

This is the fundamental principle of double-entry accounting, which ensures that the accounting equation (Assets = Liabilities + Equity) remains in balance. Debits and credits must always balance, which means that every time a debit entry is made, a corresponding credit entry must be made, and vice versa.

For Each Transaction,the Total Debit Amounts Must Equal the Total