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Which of the following concepts use the rules ‘every transaction affects two or more ledger accounts?’

 

(A) Going concern   (B) Double entry book-keeping   (C) Money measurement   (D) Periodicity

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Question added by Shazia Anees , Assistant Manager Finance , Arham Trading Company
Date Posted: 2015/08/23
Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option B is the right answer.

Asad Ahmed
by Asad Ahmed , Manager Finance & Company Secretary , Connect Communications Pvt. Ltd.

The concept which is used is "Double entry book-keeping "

Umer Sharif
by Umer Sharif , Head Of Accounts Dept , Allied Petroleum Pvt Ltd

B- Double Entry Book Keeping.

Mehboob Ali Laghari
by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union

Double-Entry-Bookkeeping is right answer.

Deleted user
by Deleted user

(B) Double entry book-keeping ...................................................................thus every credit entry must have a corresponding debit entry and every debit entry must have a corresponding credit entry

Samar Abbas Khan Khan
by Samar Abbas Khan Khan , Admin Officer , Pak Veterinary Clinic & Services

  my answer  (B) Double entry book-keeping

Amali Nisansala
by Amali Nisansala , Finance Manager , Spryn logistics pvt ltd

DOUBLE ENTRY BOOK KEEPING CONCEPT  WILL AFFECTS TWO OR MORE LEDGER ACCOUNTS ALWAYS.

Falah Musthafa
by Falah Musthafa , Audit Executive , MIM International Consultancies

Every transaction effects two or more ledger accounts is due to the double entry book keeping system, which is similar to Newton's third law of motion ("Every Action has an equal and opposite reaction").

Right Answer is (B) Double entry book-keeping.

Badar Khan
by Badar Khan , Accounts cum administrative assistant , Al Qassimia Drivng Training Centre.Sharjah

the correct answer is double entry book keeping (B)

Shoaib Akhtar
by Shoaib Akhtar , Accounts & Finance Assistance , PRASHANT PROJECTS LTD

(B) Double entry book-keeping system

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