Emirates College of TechtLearning ManaSystemshboard My courses / Faculty of Business / Accounting and Finance Department/ Accounting TheoryQuiz 1estion 2The double-entry system requires that each transaction must be recordedyetweredSelect one:ked out ofa. in at least two different accounts.b. first as a revenue and then as an expense.Flagestionc. in a journal and in a ledger.d. in two sets of books.Previous pageworkshop 5 solvedJump to.HADELLF5F6F7F8F9F10F11F12A5 €8.6.

Double Entry system: According to double entry system every business transaction has a dual aspect.…

The double-entry system requires that each transaction must be recorded Select one: a. in at least two different accounts. b. first as a revenue and then as an expense. c. in a journal and in a ledger. O d. in two sets of books.

The double-entry system requires that each transaction must be recorded Select one: a. in at least two different accounts. b. first as a revenue and then as an expense. c. in a journal and in a ledger. O d. in two sets of books.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Emirates College of Techt
Learning Mana
System
shboard My courses / Faculty of Business / Accounting and Finance Department/ Accounting Theory
Quiz 1
estion 2
The double-entry system requires that each transaction must be recorded
yet
wered
Select one:
ked out of
a. in at least two different accounts.
b. first as a revenue and then as an expense.
Flag
estion
c. in a journal and in a ledger.
d. in two sets of books.
Previous page
workshop 5 solved
Jump to.
HA
DELL
F5
F6
F7
F8
F9
F10
F11
F12
A
5 €
8.
6.

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Multiple choice
What does double entry implies ? Recording entries in journal Recording entries in ledger account Recording two aspects for every transaction Recording every transaction in books