Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 26 - No. 30)

What is the meaning of 'double-entry' in double-entry bookkeeping?

Every transaction affects two accounts.

Every transaction must be recorded twice.

Every account has two sides, debit and credit.

Two accountants must independently record each transaction.

Double-entry means each transaction affects at least two accounts to keep the accounting equation in balance.