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International Paper

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International Paper Interview Question

What is double-entry accounting?

Interview Answers

Anonymous

Mar 5, 2013

Double entry accounting is a standard accounting method that includes each transaction being recorded in at least two accounts. Resulting in a debit to one or more accounts and a credit to one or more accounts. It's basically for checking accuracy. Because both the debit and credit balances accounted for should be of equal amount. This is to the best of my knowledge. Please correct me if I am wrong

2

Anonymous

Sep 23, 2016

That's correct. Even though it is really just about presentation.