The double entry system of accounting means:

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Economics · Double Entry System

The double entry system of accounting means:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Every transaction has both a debit and a credit entry

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Answer 1

All transactions are recorded in a ledger

Answer 2

Only cash transactions are recorded

Answer 3

Every transaction has both a debit and a credit entry

Answer 4

Each transaction is recorded twice in the journal

The double entry system of accounting means:

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