In any transaction, the total dollar amount of debits must equal the total dollar amount of credits.

Name: In any transaction, the total dollar amount of debits must equal the total dollar amount of credits.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is the fundamental principle of double-entry accounting, which requires every financial transaction to be recorded with an equal amount of debits and credits in the accounting system. This helps to ensure the accuracy and integrity of financial records and reports.

In Any Transaction, the Total Dollar Amount of Debits Must