Question

what are the characteristics of Double Entry System?​

Answer 1

Answer:

Characteristics of the double-entry system are stated below; Two parties: Every transaction involves two parties – debit and credit. According to the main principles of this system, every debit of some amount creates corresponding credit, or every credit creates the corresponding debit for the same amount.

Answer 2

Explanation:

Characteristics of the double-entry system are stated below; Two parties: Every transaction involves two parties – debit and credit. According to the main principles of this system, every debit of some amount creates corresponding credit, or every credit creates the corresponding debit for the same amount.