Question

which of the following is true of every transaction? there will be either a debit or credit but not both. there is a simultaneous debit and credit. there will be a decrease or increase in cash.

Explanation:

In double - entry accounting, every transaction has at least one debit and one credit to maintain the accounting equation (Assets = Liabilities + Equity). The first option is wrong because every transaction has both debit and credit. The third option is wrong as not all transactions affect cash (e.g., depreciation which affects non - cash accounts like accumulated depreciation and depreciation expense).

Answer:

B. There is a simultaneous debit and credit.