WAEC Accounting 2014 Objective — Question 50
Question 50 of 50 from the West African Examinations Council (WAEC) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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The principle of double entry book keeping states that
- A. every debtor must have a creditor
- B. every account debited must be immediately credited
- C. for every debit entry, there must be a corresponding credit entryCorrect
- D. for every double debit, there must be a double credit
Explanation
The double entry principle states that for every debit entry made, there must be a corresponding credit entry of equal value.
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