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1) Entry in two sets of books.
2) Entry at two dates.
3) Entry for two aspects of the transaction.
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C) Entry for two aspects of transaction.
The correct answer is C but it's not complete Double is an accounting system in which every transaction must be recorded in atleast two different accounts,
Double entry is a system of recording accountable transactions using a Journal Entry with both Debit and Credit.
The double entry system of accounting or bookkeeping means that every business transaction will involve two accounts .
3) Entry for two aspects of the transaction.
Based on accountancy expertise, The correct answer is
3) Entry for two aspects of the transaction.
3) Entry for two aspects of the transaction.
Double entry system means every transaction involves two or more accounts. The sum of debit value will be equal to sum of credit value. And it follows 'The golden rule of accounting' or 'Fundamental Accounting Equation' that is Assets=Equities(Capital)+Liabilities. Transaction are entered in books of accounts by Real, Nominal and personal Accounts.
Double Entry means Entry of Two aspects of the transaction i.e. Debit and Credit. So, answer is (3)
Every transaction have two aspect one debit while another one is credit......
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Answer 3 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
