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the existence of two aspects both debit and credit is dual aspect in accountancy

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Dual aspects indicates that Every transaction has two effects. I.e. one has debit effect whereas the other has credit effect.
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Dual aspect of accounting refers to " in accounting every transaction has two effects- one is debit and another is credit" Or we can say that accounting has two sides :- DEBIT and CREDIT

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Dual Aspect of Accounting means that every transaction that take place has two aspects one is debit & another is credit & because of dual aspect of a transaction asset side of Balance sheet matches with Liabilities side.  

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The accounting we follow today is invented by Mr. Luca Pacioly. This method is known as the double entry system of book keeping. In this, every transactions are recorded with having two aspects. The common logic behind this is every receipt is having a giving aspect. In this base, accounting uses the principal of dual aspect. That is every debit has equal and corresponding credit. For example, if capital is introduced by the proprietor, cash is the receiving aspect and the liability to repay the amount also arises. That is the giving aspect. Likewise every transactions are having two aspects.
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Dual aspect means every financial transactions have more than one effect in accounting (i.e two effect) one is called "Debit" other one is "Credit" and both sides are always equal in amount.
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Dual aspect of accounting refers to " in accounting every transaction has two effects- one is debit and another is credit" Or we can say that accounting has two sides :- DEBIT and CREDIT
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This concept is the basis of double entry accounting, which is required by allaccounting frameworks in order to produce reliable financial statements. Theconcept is derived from the accounting equation, which states that: Assets = Liabilities + Equity.

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This dual aspect term states that there are two aspects of Accounting, one represented by the Assets of the Business and the other by the Claims against them. The concept states that these two aspects are always equal to each other. 

Double Entry is the name given to the method of recording the transactions for the dual aspect concept.

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Dual aspect of accounting is one of the rules of accounting - in fact, it is the very foundation of modern double entry system of accounting. What this means is that every business transaction needs to have 2 legs or accounts into which the transaction gets recorded - a debit leg and a credit leg. For example, if a business were to purchase goods on credit - there will be 2 legs; Debit leg to Purchases and Credit Leg to Sundry Creditors.

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