ecause every business transaction affects two or more bookkeeping accounts, a double-entry system of accounting is used to record transactions in which:   A) additions to one account necessitates a subtraction of the same amount in another account.   B) a debit entered on the balance sheet must also be entered on the statement of cash flows.   C) a debit adds to an account and a credit subtracts from the same account.   D) equal dollar amounts of debits and credits are entered for each transaction.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is