QUESTION 17

1. Regarding the double-entry system, which of the following statements is FALSE?
2. A transaction would be incomplete if only one side were recorded.Because of technology, the use of the double-entry system of accounting is optional.The double-entry system is a system of accounting in which every transaction affects at least two accounts.If office supplies are purchased on account, the account Office Supplies increases and the account Accounts Payable increases.