Double-entry accounting is an accounting system that, Ask an Expert

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Double-entry accounting is an accounting system: That records each transaction twice. That records the effects of transactions and other events in at least two accounts with equal debits and credits. In which each transaction affects and is recorded in two or more accounts but that could include two debits and no credits. That may only be used if T-accounts are used. That ensures that errors never occur.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9944665

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