The rules of double entry states that
-
A.
for every debit entry, there must be a corresponding debit entry -
B.
for every credit entry, there must be a corresponding credit entry -
C.
all transactions must be recorded in two accounts, one account is debited and another is credited -
D.
all transaction must be credited
Correct Answer: Option C
Explanation
Double entry system is the entry of debit and credit for each transaction in the ledger. Hence the double entry rules states that “debit the receivers, credit the giver”.