Question

Double entry means transaction of
(a) doing entry on both sides of an account
(b) doing entry in personal account of both
(c) doing entry in depositing of two accounts
(d) doing entry in one’s personal account and doing entry in favour of deposit of other side

Answer 1

Answer:

doing entry on both sides of account.

your answer

Answer 2

Answer:

(a) doing entry on both sides of an account

Explanation:

Double entry means transaction of doing entry on both sides of an account.

The double-entry accounting or bookkeeping system means that sums must be reported in at least two accounts for each business transaction. The double-entry system therefore allows the amounts entered as debts to be equal to the sums entered as credits for all transactions. An equivalent amount of money is always moved in a double-entry transaction from one account to another account.