Which of the following is not true with a double-entry accounting system? A. Every transaction affects at least two accounts.B. The accounting equation remains in balance.C. Each business transaction will have two debits.D. The sum of all debits is always equal to the sum of all credits in each journal entry.

In a double-entry system, there is debit to one account and credit another account. The transaction will not only involve debiting of two accounts because that will result in an incomplete recording of that particular transaction. To balance, it is required that the other account is credited because in double entry system the impact on the accounts is equal and opposite.

OlanmaE OlanmaE · Answer 2 · 2022-04-05T13:23:25+02:00

The option that is untrue about a double-entry accounting system is: Each business transaction will have two debits.

What is an Accounting System?

An accounting system is a set of accounting processes with integrated procedures and controls. The objective is to record business transactions, summarize those transactions and create a report based on those transactions that are used for decision making by an organization.

In a system of double-entry, one part of the account is debited while the other part is credited. To balance the account, it is expected that the two sides that are the credit and debit unit are filled. Double-entry accounts are equal and opposite.

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