Question
Statement I: A double-entry accounting system entails that for every debit entry there should also be a credit entry. Statement II: A revenue account on
Statement I:
A double-entry accounting system entails that for every debit entry there should also be a credit entry.
Statement II:
A revenue account on the balance sheet increases by a credit entry and decreases by a debit entry.
| Statement 1 is incorrect; statement 2 is correct |
| Both statements are incorrect |
| Statement 1 is correct; statement 2 is incorrect |
| Both statements are correct |
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After The Quality Audit Closing The Loop On The Audit Process
Authors: J. P. Russell, Terry Regel
2nd Edition
0873894863, 978-0873894869
