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WAEC Accounting 2013 Objective — Question 13

Question 13 of 50 from the West African Examinations Council (WAEC) Accounting 2013 Objective paper, with the correct answer and a full explanation.

The double entry principle states that

A. every debit entry must have a corresponding credit entryCorrect
B. every credit entry must have a corresponding double entry
C. every debit entry must have a corresponding double entry
D. every asset must have a corresponding liability

Explanation

The principle of double entry states that for every debit entry, there must be the corresponding credit entry.

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