Home › CBSE Class 11 (Commerce) › Accountancy › Recording of Business Transactions › Every business transaction has a two-fold effect…
Every business transaction has a two-fold effect, so it is recorded in:
AOnly one account
BThe ledger only
CExactly three accounts
DAt least two accounts
Answer & Solution
Correct answer: D. At least two accounts
Each transaction has a give aspect and a take aspect, so at least two accounts are affected.
Related questions
Posting means grouping all transactions of a particular account:The first step in posting is to locate in the ledger the:The title of a ledger account ends with the suffix:The journal folio column in a ledger account records the:Which accounts appear in the balance sheet?Which accounts are permanent accounts?Recording in the journal is called journalising, while recording in the ledger is:The basis of classification of data in the ledger is the: