Home NCERT Solutions NCERT Exemplar CBSE Sample Papers NCERT Books Class 12 Class 10
Question 5

Why are some accounting systems called double accounting systems?


Some accounting systems are called double accounting systems because every business transaction has a two-fold effect and that it affects two accounts in opposite directions and if a complete record were to be made of each such transaction, it would be necessary to debit one account and credit another account. It is this recording of the two fold effect of every transaction that has given rise to the term Double Entry System.

Popular Questions of Class Accountancy

Recently Viewed Questions of Class Accountancy

Write a Comment: