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Theory Base of Accounting — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountTheory Base of Accounting1 Mark
Question
Explain Dual Aspect Concept.
✓

Answer

Every transaction has two aspects a debit and a credit of equal amount. It means for every debit there is a credit of equal amount in one or more accounts and vice versa. According to Dual Aspect Concept, both the aspects are recorded in the books of account.

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