Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 31 - No. 3)
Which of the following statements describes the relationship between the accounting equation and double-entry bookkeeping?
Double-entry bookkeeping is used to calculate the values of the accounting equation.
The accounting equation is unaffected by double-entry bookkeeping.
Double-entry bookkeeping ensures that the accounting equation remains balanced.
The accounting equation helps to decide the type of the transactions for double-entry bookkeeping.
Explanation
Double-entry bookkeeping ensures that the accounting equation always balances.
Comments (0)
