International Paper Interview Question: What is double-entry accounti... | Glassdoor

Interview Question

Financial Analyst Interview Memphis, TN

What is double-entry accounting?

Answer

Interview Answer

2 Answers

2

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

Susannah Hickman on Mar 5, 2013
0

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

Anonymous on Sep 23, 2016

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