Question

Accounting equation is formed based on the accounting principle of

(a) Dual aspect (b) Consistency (c) Going concern (d) Accrual​

Answer 1

Answer:

a dual aspects

Explanation:

ANSWER

Dual aspect concept is the basic concept of accounting, According to which every business transactions has a dual effect. As the name implies , the entry made for each transaction is composed of two parts- one for the debit and the other for the credit. Every debit has an equal amount of credit. So, the total of all debits equal to the total of all credits. This gives basic accounting equation:

Assets = Liabilities + Capital.

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Answer 2

Accounting equation is formed based on the accounting principle of

Explanation:

consistency