Ask Question
BusinessBusiness
14 September, 12:22

1. Why is a business transaction entered in at least two accounts?

+5
Answers (1)
  1. 14 September, 12:27
    0
    a business transaction is entered into two accounts because of the rules of credits and debits. every transaction affects at least two different accounts. So you must debit one account and credit another in order to satisfy the accounting equation.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “1. Why is a business transaction entered in at least two accounts? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
After documenting the client's prescribed internal control, the auditors will often perform a walk-through of each transaction cycle. An objective of a walk-through is to:A. Verify that the controls have been implemented (placed in operation). B.
Answers (1)
Egret Corporation, a calendar year C corporation, was formed on March 6, 2015, and opened for business on July 1, 2015.
Answers (1)
Lotoya Davis Corporation has 10 million shares o common stock issued and outstanding. On June 1, the board of directors voted an 80 cents per share cash dividend to stockholders of record as of June 14, payable June 30.
Answers (1)
Suppose demand for U. S. products across the world increases. What is the impact on the flow of financial capital as a result of the increase in demand for products, the value of the U. S. dollar, and the foreign money price of the U. S.
Answers (1)
A company manufactures a product using machine cells. Each cell has a design capacity of 250 units perday and an effective capacity of 230 units per day.
Answers (1)
New Questions in Business
One way that governments can improve market outcomes is to ensure that individuals are able to own and exercise control over their scarce resources.
Answers (1)
Mike gets angry because Ben made a better grade on a test than he did. They get into an argument, and Mike takes a swing at Ben intending to hit him. Ben shoves Mike in order to avoid the blow.
Answers (1)
A company facing an interest rate of 8% must choose among projects offering the following four-year cash flows.
Answers (1)
Natalie has an easement to drive across Donald's road. Which of the following circumstances would terminate this easement? A. Sale of Natalie's propertyB. Sale of Donald's propertyC. Revocation of the easement by DonaldD.
Answers (1)
In a basic AD-AS model, if the economy is at the equilibrium on the far left of the potential real output level, then a contractionary monetary policy will
Answers (2)
Home » Business » 1. Why is a business transaction entered in at least two accounts?
Sign Up Forgot Password?