Accountancy, asked by adishetty, 1 year ago

state any two features of double entry system of accounting​

Answers

Answered by Dikshanegi
5

Answer:

Double entry system emphasizes that every financial transaction has two aspects where each transaction is recorded in two separate accounts i.e. debit and credit with the equal amount. The profit and loss account, and balance sheet are prepared to know the profitability and financial position of the business.

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