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e. The double entry system of accounting tells us that each transaction must affect a single account even though the book of original entry discloses
e. The double entry system of accounting tells us that each transaction must affect a single account even though the book of original entry discloses the complete effects of a transaction. Is this statement true or false? f. The trial balance may not balance when incorrect accounts are used in journalizing or posting. Is this statement true or false? g. Revenue recognition principle and matching principle can be followed without making adjusting entries. Is this statement true or false? h. It is not always necessary to use the contra asset account called Accumulated Depreciation, but instead we can credit the long term asset account. Is this statement true or false
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