An accounting system is referred to as a double-entry system because: Select one

Question

An accounting system is referred to as a double-entry system because: Select one: A all entries are checked twice to ensure accuracy. B. both what is received and what is given in exchange are recorded. O C. transactions are recorded in both the journal and ledger e D. transactions are recorded twice by separate individuals to ensure accuracy E. none of these are correct answers Question 18 Not yet answered Marked out of 2.00 p Flag question You are pleasantly surprised to discover that a popular actress appears on The Tonight Showv company's jeans. Later, your company's sales increase by s500.000 as a result. When the actres TV. you would have recorded an asset because the TV appearance was expected to bring future benefits to your company

Explanation / Answer

Answer

B ) both what is received and what is given in exchange are recorded

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