Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 7 - No. 32)
What is the purpose of double-entry bookkeeping?
To ensure that assets always equal liabilities.
To record every transaction twice, once as a debit and once as a credit.
To only record transactions that increase assets.
To make sure that the accounting equation is always balanced.
Explanation
To record every transaction twice, once as a debit and once as a credit.
Comments (0)
