Question: . What is the idea that a transaction affects either both sides of the equation by the same amount or one side of the equation

.

What is the idea that a transaction affects either both sides of the equation by the same amount or one side of the equation only, by increasing and decreasing it by identical amounts and thus netting zero?

.

The additive concept B

.

The going concern assumption C

.

The monetary measurement concept D

.

Double

-

entry accounting

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

TRUE FALSE. Write T if the statement is true and F if the statement is false. 1) Accounting is the information system that measures business activities, processes the information into reports, and...

In his 1996 yearend column for Forbes, merchant banker and economist John Rutledge describes two weeks of negotiations over an acquisition for a private equity fund. The hours of bargaining were...

Prepare the financial analysis to support your decision between bankruptcy,voluntary reorganization,and Chapter11reorganization.It must be complete and prepared in a professional level,with the...

Under the doubleentry bookkeeping system, the full value of each transaction is recorded on the debit side of one or more accounts and also on the credit side of one or more accounts. Therefore, the...

Check My Work (3 remaining) Business Forms and the Accounting Equation A business is an organization in which basic resources (inputs), such as materials and labor, are assembled and processed to...

Journal Article Review 1. Write Title that reflects the main focus 2. Cite the article 3. Article Identification 4. Introduction 5. Summarize the Article 6. Critique 7. Conclusion The interaction...

Business Forms and the Accounting Equation I have changed the numbers so that I am not plagiarizing. I am just trying to learn this a more simpler way. please help by showing all work. Id like to...

The Accounting Equation The details of the activities of a company, or transactions, are recorded in a company's accounting system.These transactions are summarized in a set of reports known as the...

A Journal Article Review for " The interaction between technology, business environment, society, and regulation in ICT industries". 1. Write the Title that reflects the main focus of your work. ......

Assets = Liabilities + Equity The left side of the accounting equation shows the economic resources of the company (what the company has). = The right side of the accounting equation summarizes who...

A receiver can determine the distance to a homing transmitter by its signal strength. These signal strengths were measured using a receiver in a car traveling due north. a. Find the equation of the...

What is the future value, ten years from now, of $1,000 invested today at a periodic interest rate of 1% compounded monthly?

Final Exam 3 . When a resident is admitted with Medicare Part A as primary payer, which of the following components is mandated by regulations? Physician certification for extended care services...

Q What is the function of anti-pumping in the circuit breaker?