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Every acccounting transaction will affect how many accounts? 1.Only One 2.Only Two 3.Two Or More

Payroll Accounting Accounts Payable Accounts Receivable Finance
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Question added by Majid Wangade , Senior Accountant , KANTOUR LIMITED COMPANY ( Real Estate, Construction and Asset Management )
Date Posted: 2016/11/15
Upvote (1) Views (34) Followers (6) Answers (6) Report Question
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Mohd Abdul

Only two. For example salaries outstanding

Effect 1: Appears in profit and loss account

Effect  2: Appears in balance sheet

Mohsin Saeed
by Mohsin Saeed , ACCOUNTANT , Arsalan Restaurant

in double entry system its 2 or more

Donna Pearl Mensurado
by Donna Pearl Mensurado , HR Admin/ Accounting Assistant , The Silver Corner Manpower Recruitment

2 or more accounts. Double entry System.

Nadjib RABAHI
by Nadjib RABAHI , Freelancer , My own account

I agree with the answers given. Every transactions will affect 2 or more accounts

AHMAD OMAR CMA-CertIFR
by AHMAD OMAR CMA-CertIFR , Accounting Manager , NADIA BAKHURJI ARCHITECTS & INTERIOR DESIGN CONSULTANTS

every transaction will affect 2 or more accounts

Omar Haymour
by Omar Haymour , Accounting Manager , Qatar Public Relations

I am assuming that you are asking about the double entry accounting method; in this case 2 or more. 

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