Question

What requirement is imposed by the double entry system in the recording of any business transaction?​

Answer 1

Answer:

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The double entry system requires two entries for each transaction: a debit and a credit. Any purchases, such as raw materials or assets, as well as any payments from customers, must all be recorded in two places in the ledger under this system.

Answer 2

Answer:

The double entry system requires two entries for each transaction: a debit and a credit. Any purchases, such as raw materials or assets, as well as any payments from customers, must all be recorded in two places in the ledger under this system.

Explanation: