A System of book- keeping in which both the aspects of transaction are recorded. Answer in a word / phrase / term.
Answers
Answered by
0
Heya mate ✌️✌️
A System of book- keeping in which both the aspects of transaction are recorded⤵️⤵️⤵️
Double Entry Book
A System of book- keeping in which both the aspects of transaction are recorded⤵️⤵️⤵️
Double Entry Book
Answered by
0
Answer:
A system of bookkeeping in which both the aspects of the transaction are recorded is referred to as the double-entry bookkeeping system.
In this system, two entries are required, one of which is termed as debit and the other as credit. Also, the total amount of debit should be equal to the total amount of credit. This makes it easier and helps in better accounting and detecting errors.
Similar questions