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what is double entry system?

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what is double entry system?

Posted by Mohd Rehan 5 years, 9 months ago

CBSE > Class 11 > Accountancy

2 answers

Varun Singh 5 years, 9 months ago

Kya rehan

Yogita Ingle 5 years, 9 months ago

Double Entry System of accounting deals with either two or more accounts for every business transaction. For instance, a person enters a transaction of borrowing money from the bank. So, this will increase the assets for cash balance account and simultaneously the liability for loan payable account will also increase.

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