Solution-Describe key principles of double-entry bookkeeping

Describe key principles of double-entry bookkeeping

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Reference no: EM132594350

Question 1: Which of the following statements best describe key principles of double-entry bookkeeping? Select all that apply.

Option 1: There are always two entries for every transaction.

Option 2: It is a record keeping system under which every transaction must be recorded in two accounts.

Option 3: Each transaction must have a credit entry and a debit entry.

Option 4: None of the above

Reference no: EM132594350

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Describe key principles of double-entry bookkeeping

Reference no: EM132594350

Reference no: EM132594350

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