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What do you understand by double …

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What do you understand by double entry system

Posted by Rahul Piple 6 years, 10 months ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 6 years, 10 months ago

The double entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. The double entry system also requires that for all transactions, the amounts entered as debits must be equal to the amounts entered as credits.

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