Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. regarding the double - entry system, which of the

Regarding the double - entry system, which of the following statements is incorrect? OA. A...

90.2K

Verified Solution

Question

Accounting

Regarding the double - entry system, which of the following statements is incorrect? OA. A transaction would be incomplete if only one side were recorded. B. supplies are purchased on account, the account supplies increases and the account Accounts Payable increases. C. The double - entry system is a system of accounting in which every transaction affects at least two accounts. O D. Because of technology, the use of the double-entry system of accounting is optional.
image
Regarding the double - entry system, which of the following statements is incorrect? A. A transaction would be incomplete if only one side were recorded. B. If supplies are purchased on account, the account supplies increases and the accoun C. The double - entry system is a system of accounting in which every transaction affect D. Because of technology, the use of the double - entry system of accounting is optional

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students