passwella.
Menu

GCE Financial Accounting 1990 Question 25

Question 25

Double Entry and the Ledger

The principle of double entry book-keeping is that

  1. A.every debtor must have a creditor
  2. B.every account debited must be immediately credited
  3. C.for every debit there must be a corresponding credit
  4. D.for every double debit, there must be a double credit
  5. E.for every item there must be a double entry.
Show the answer and explanation

Answer: C (for every debit there must be a corresponding credit)

Explanation

Each debit entry has an equal credit entry in another account.