MULTIPLE CHOICE (3 points each) 1. Double-entry accounting is characterized by which of the following? a. Every transaction affects both an asset account and either a liability account or an owner's equity account. b. The number of debit entries posted to the ledger equals the number of credit entries. c. The number of ledger accounts with debit balances is equal to the number with credit balances. d. The total dollar amount of debit entries posted to the ledger is equal to the total dollar amount of the credit entries