Question

what is double entry system ...????​

Answer 1

Answer:

Double entry system of accounting deals with two or more accounts for every business transaction.

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Answer 2

Double entry system was discovered by Lucas pacioli. This is system of accounting is based on dual aspect concept. According to this concept, there due two effect of every business transactions .Which are on two different account on different sides. In any one account affected is recorded in the debit side in another account recorded in credit side. Thus for every debit there is corresponding credit, so every transaction are recorded in the accounts. It it is called double accounting system.

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