Question

Subject: Financial Accounting (2)
Question 24 of 38
In double entry book keeping system, every debit has a corresponding?
O Debit
O Credit
O Balance
O Single entry
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Answer 1

Answer:

A double-entry bookkeeping system is where a corresponding entry is made for every transaction, i.e. debits and credits. The basis of the double-entry bookkeeping system is that every transaction has two parts and affects two ledger accounts.

Answer 2

Answer:

Credit

Explanation:

In a double entry system, always debit balance equal to credit balance.