Question

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

Answer 1

Answer:

The write answer is Double Entry System.

Answer 2

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.