Ask Question
21 October, 03:56

What are the two fundamental equality requirements of the double-entry accounting system?

+1
Answers (1)
  1. 21 October, 04:03
    0
    Debits must = Credits, so if some one bought a $20 sofa, the credit would be the asses, more specifically the cash account because it goes down by $20 and the debit would also be the assets but the furniture, becasue it goes up by $20, 20=20 so debit=credit
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What are the two fundamental equality requirements of the double-entry accounting system? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers