P1 C2 Dual Effect of Transactions and Types ofAccounts — Account STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceAccountP1 C2 Dual Effect of Transactions and Types ofAccounts1 Mark
Question
What is dual effect ?
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Answer
For every economic transaction when two effects - one on debit side and one on credit side -are given or passed, as per accounting norms it is known as dual effects of a transaction.
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