Question

discuss the characteristics of double entry system?​

Answer 1

Explanation:

Features of Double Entry Accounting system

A transaction has two-fold aspects i.e. one giving the benefit and the other receiving the benefit.

A transaction is divided into two aspects, Debit and Credit. ...

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Answer 2

Answer:

The double entry system has got the following important characteristics/features:

Every business transaction affects two or more accounts. ...

Every account is divided in two parts. ...

Division of amount column as debit and credit. ...

Dual aspect of every transaction. ...

Based upon accounting concepts and conventions.