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Answer the following true/false questions, then select the corresponding multiple choice answer: _____ Every accounting transaction affects both the balance sheet and the income statement.
Answer the following true/false questions, then select the corresponding multiple choice answer:
_____ Every accounting transaction affects both the balance sheet and the income statement.
_____ Every economic event requires a journal entry.
_____ The equality of debits and credits in a trial balance ensures that all journal entries were correctly posted to the accounts.
A. | True, True, True | |
B. | True, True, False | |
C. | True, False, True | |
D. | False, True, False | |
E. | False, False, False |
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