Question and answer
The fact that each transaction has a dual effect on the accounting elements provides the basis for what is called (Points : 1) single-entry accounting. compound-entry accounting. multiple-entry accounting. double-entry accounting.
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Asked 5/2/2015 12:46:45 PM
Updated 5/4/2015 6:06:27 AM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Edited by debnjerry [5/4/2015 6:05:44 AM], Confirmed by debnjerry [5/4/2015 6:05:47 AM]
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User: The fact that each transaction has a dual effect on the accounting elements provides the basis for what is called (Points : 1) single-entry accounting. compound-entry accounting. multiple-entry accounting. double-entry accounting.

Weegy: The fact that each transaction has a dual effect on the accounting elements provides the basis for what is called double-entry accounting. ]
cecillereign|Points 664|

User: The sum of the debits must equal the sum of the credits on the trial balance. (Points : 1) True False

Question
Asked 5/2/2015 12:46:45 PM
Updated 5/4/2015 6:06:27 AM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Edited by debnjerry [5/4/2015 6:05:44 AM], Confirmed by debnjerry [5/4/2015 6:05:47 AM]
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The sum of the debits must equal the sum of the credits on the trial balance. TRUE
Added 5/4/2015 6:06:27 AM
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Questions asked by the same visitor
A cash payment on a loan affects which of the following accounts? (Points : 1) Cash and Accounts Receivable Cash and Notes Payable Cash and an expense account Cash and a revenue account
Question
Updated 5/2/2015 4:46:13 PM
1 Answer/Comment
A cash payment on a loan affects Cash and Notes Payable.
Added 5/2/2015 4:46:13 PM
This answer has been confirmed as correct and helpful.
The trial balance is used in preparing financial statements. (Points : 1) True False
Question
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Updated 5/2/2015 1:28:06 PM
1 Answer/Comment
The trial balance is used in preparing financial statements. True.

Added 5/2/2015 1:28:06 PM
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A critical thinker is one who has developed a knowledgeable understanding of our complex world. (Points : 4) True False
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Updated 6/9/2016 1:07:52 PM
1 Answer/Comment
A critical thinker is one who has developed a knowledgeable understanding of our complex world. TRUE.
Added 6/9/2016 1:07:52 PM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [6/9/2016 1:16:49 PM]
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