Which of the following is related to scientific system of maintaining account
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Answer:
The write answer is Double Entry System.
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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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