Accountancy, asked by sameekshaM, 8 months ago

What do u understand by duality concept ? ( 1 point)

Answers

Answered by abhi52329

Explanation:

every transaction in accounting will have two entries.

Answered by aakashnani2325

Explanation:

According to the Dual Aspect Concept, each business transaction has a dual or a two way effect. This implies that a particular business transaction involves minimum two accounts when recorded in the books of accounts. This principle is the foundation of Double Entry System of accounting.

Example:-If there are two sides to a coin, metaphorically speaking, there's a duality. Peace and war, love and hate, up and down, and black and white are dualities. Another term for a duality is a dichotomy.

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