Every transactions has equal and corresponding effects in at least two accounts. This feature of
accounting is known
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Answers
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Answer:
Double Entry System
Explanation
Under the double entry system , every transaction will have an effect on at least two accounts - one account will be debited and another account will be credited .
Answered by
0
Answer:
Double Entry System
Explanation:
According to this system every business transaction affects at least two accounts in opposite directions.It means that at least two accounts are affected by a transaction- one account receiving a benefit and the other account yielding a benefit. The person or the account receiving a benefit is debited and the person or the account who gives something to the business is credited. The amount of every transaction is written twice,once as a debit and again as a credit.
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