the system of recording transactions based on dual aspect concept is called
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ofcourse, dual entry system
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The system of recording transactions supported dual side conception is termed double-entry bookkeeping accounting.
Explanation:
Single entry accounting has been outdated by double entry accounting. One can still notice restricted use of single-entry bookkeeping accounting by people and tiny organizations that keep a casual record of receipts and payments.
Double entry accounting relies on the "duality principle" and was devised to account all "aspects of a dealings". It deals with both the credit and debit of the process.
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