Question

double emtry system of book - keeping means​

Answer 1

Answer:

Double-entry bookkeeping, in accounting, is a system of book keeping where every entry to an account requires a corresponding and opposite entry to a different account. The double-entry has two equal and corresponding sides known as debit and credit. The left-hand side is debit and right-hand side is credit.

Explanation:

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Answer 2

ANSWER :

❒ Double Entry System of book-keeping means a system of recording business transactions in the books of accounts showing the effect of two aspects in each transactions.

• ➮ The Double Entry System was first evolved by Fra Luca Pacioli.

• ➮ Double Entry System recognises the facy that there are two fold aspects in every business transactions.

• ➮ The basic principle followed under Double Entry System is that every debit must have a corresponding credit. The amount of the debit side must be equal to the credit side.

• ➮ Double Entry System recognizes the fact that there are two fold aspects in every business transaction.

• ➮ Dual Aspect Concept is the very foundation of present accounting mechanism which is the Double Entry System of book-keeping as Dual Aspect Concept states that there are Dual or two aspects which is effected by each transaction.