Transactions are recorded or posted to the ledger in line with

  • A Accounting Concept
  • B Source document
  • C Double Entry Principle
  • D Data collection

The correct answer is C. Double Entry Principle

The main principle of double-entry system is that for every debit there is a corresponding credit for an equal amount of money and for every credit there is a corresponding debit for an equal amount of money; i.e. for every transaction one account is debited for, the amount of transaction and the other account is also credited.

Previous question Next question