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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 concept of The Dual Aspect Principle.
GAAP stands for ______.
______ is the language of business.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
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.
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.
Explain the money measurement principle of accounting.
Write short note on the going concern concept.
Explain the principle of consistency.
Name any four concepts of GAAP.
