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WAEC Financial Accounting 2000 Question 33

Question 33

Double Entry and the Ledger

An account is said to have a debit balance because

  1. A.the first entry made in it is on its debit side
  2. B.there are more entries on the debit side than on the credit side
  3. C.total value of debit entries is more than total value of credit entries
  4. D.there is no entry at all on the debit side.
Show the answer and explanation

Answer: C (total value of debit entries is more than total value of credit entries)

Explanation

The balance depends on which side has the bigger total value, not the number of entries.