Question

if the furniture is purchased in the business, furniture is increased whereas the cash is decreased. there can be no transaction in the business which effect only one account or which has only one aspect​

Answer 1

Answer:

I think only one account will be affected

Explanation:

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Answer 2

Answer:

All transactions are recorded in the books of accounts on the basis of the dual-aspect concept. Thus, every transaction affects at least two accounts in opposite directions. There can be no transactions in a business that affect only one account or have only one aspect because the double-entry system of accounting is followed while recording the transactions in the books of accounts. For example, if furniture is purchased for cash, the transaction will affect two accounts. i.e. Furniture A/c, as furniture is increased and Cash A/c as cash is decreased.

Explanation:

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