Every transaction touches at least two accounts, with at least one debit and at least one:
ACoupon
BCheque
CContract
DCredit
Answer & Solution
Correct answer: D. Credit
1. The two sides must balance.
2. One is a debit.
3. The other is a credit.
_Source: OpenStax Principles of Financial Accounting, Chapter 3, Analyzing and Recording Transactions._
Keep practising Double Entry Bookkeeping
Browse all Double Entry Bookkeeping questions for ICAG (Ghana), or explore more Accounting topics.