What are the dual effects of transaction.
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ɢ☺ᴏᴅ ᴍᴏʀɴɪɴɢ ᴅᴇᴀʀ❣️
♡ᴛʜᴇ ᴅᴜᴀʟ ᴇғғᴇᴄᴛ ᴘʀɪɴᴄɪᴘʟᴇ ɪs ᴛʜᴇ ғᴏᴜɴᴅᴀᴛɪᴏɴ ᴏʀ ʙᴀsɪᴄ ᴘʀɪɴᴄɪᴘʟᴇ ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢ. ɪᴛ ᴘʀᴏᴠɪᴅᴇs ᴛʜᴇ ᴠᴇʀʏ ʙᴀsɪs ғᴏʀ ʀᴇᴄᴏʀᴅɪɴɢ ʙᴜsɪɴᴇss ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ɪɴᴛᴏ ᴛʜᴇ ʀᴇᴄᴏʀᴅs ᴏғ ᴀ ʙᴜsɪɴᴇss. ᴛʜɪs ᴄᴏɴᴄᴇᴘᴛ sᴛᴀᴛᴇs ᴛʜᴀᴛ ᴇᴠᴇʀʏ ᴛʀᴀɴsᴀᴄᴛɪᴏɴ ʜᴀs ᴀ ᴅᴜᴀʟ ᴏʀ ᴅᴏᴜʙʟᴇ ᴇғғᴇᴄᴛ ᴀɴᴅ sʜᴏᴜʟᴅ ᴛʜᴇʀᴇғᴏʀᴇ ʙᴇ ʀᴇᴄᴏʀᴅᴇᴅ ɪɴ ᴛᴡᴏ ᴘʟᴀᴄᴇs.....♡
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Dual effect accounting being one of the fundamentals of accounting means that each and every transaction entered into by any business enterprise has two aspects namely debit and credit, thereby two effects on the books of accounts
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