One basic assumption of the double entry theory is that it allows?
Two credit entries at the same time
Two debit entries at the same time
Debit and credit two credit entries at the same time
Debit and credit two credit entries in corresponding account
Correct answer is D
No explanation has been provided for this answer.
A financial analyst needs accounting information to?
Maintain the production section of the business
Know why transactions cause increase and decreases in assets
Advise on how to manage the business
Know how to record transaction in T account
Correct answer is C
No explanation has been provided for this answer.
One of the major features of bookkeeping is that it?
Provides permanent records for all financial transactions
Is futuristic in nature
Accepts responsibility for all wrong postings
Does not give room for double entry procedures
Correct answer is A
No explanation has been provided for this answer.