The system of accounting where each transaction affects two or more accounts and the sum of the debit entries equals the sum of the credit entries is called:

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Double-entry accounting is a fundamental concept in accounting where each transaction affects at least two accounts, and the sum of the debit entries equals the sum of the credit entries. It ensures accuracy and completeness in recording financial transactions. Choice A, B, and D are not commonly used terms in accounting.

The System of Accounting Where Each Transaction Affects Two or More