Accountancy, asked by gowsiya9393, 5 months ago

Which of the following is related to scientific system of maintaining account

Answers

Answered by priyanshchourasia55
2

Answer:

The write answer is Double Entry System.

Answered by mad210203
1

Double-Entry System

Explanation:

  • The Double-entry system of bookkeeping is a modern and scientific method of recording accounts.
  • Every financial transaction has equal and opposite consequences in at least two independent accounts, according to double entry, a key notion underlying modern bookkeeping and accounting.
  • Debit the recipient and credit the giver' is the primary rule for double-entry system entries.
  • A transaction's debit entry will appear on the left side of the general journal, while the credit entry will appear on the right side.
  • For the transactions to be balanced, the amount of debits and credits must be equal.
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