Question

Which of the following statements is true and which is false?
i. For every transaction there will be two entries.
ii. 'One who gives is a debtor and one who receives is a creditor'.
iii. A system is called ‘double entry system’ because the two fold aspect
of each transaction are recorded.
iv. The totals of debit entries on any day need not be equal to credit
entries related to various accounts.

Answer 1

Answer:

true

true

true

true

Explanation:

answer