Question

write accounting rules of debit and credit under modern approach?​

Answer 1

Answer:

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Explanation:

Under the Modern Approach, the accounts are not debited and credited. Hence, the Accounting Equation is used to debit or credit an account. ... Also, a transaction may affect two accounts on the debit side or two accounts on the credit side. Also, the profits will increase the Capital and losses will decrease it.

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Answer 2

Answer:

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