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प्रश्न
This principle suggests that every debit has a corresponding and equal credit.
विकल्प
Matching principle
Principle of full disclosure
Dual aspect principle
Realisation concept
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उत्तर
Dual aspect principle
Explanation:
The dual aspect principle is a fundamental concept in accounting that suggests every financial transaction has two aspects: a debit and a corresponding and equal credit. This principle ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced, as every transaction affects at least two accounts in opposite ways.
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संबंधित प्रश्न
Explain the need for GAAP for accounting.
Define the term GAAP.
Accounting principles are necessary due to which of the following reasons?
______ is the language of business.
According to this principle, revenue is deemed to be realised when the goods have been transferred or the services have been rendered to a customer.
According to Business Entity Concept:
Name the basic principles of accounting.
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
Discuss in brief the basic principles of accounting.
Explain matching principle of accounting.
