Question: Answer the following true/false questions, then select the corresponding multiple choice answer: _____ Every accounting transaction affects both the balance sheet and the income statement.

Answer the following true/false questions, then select the corresponding multiple choice answer:

_____ Every accounting transaction affects both the balance sheet and the income statement.

_____ Every economic event requires a journal entry.

_____ The equality of debits and credits in a trial balance ensures that all journal entries were correctly posted to the accounts.

A.

True, True, True
B.

True, True, False
C.

True, False, True
D.

False, True, False
E.

False, False, False

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