Advertisements
Advertisements
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
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
Justify the following:
Every transaction is recorded in at least three accounts.
It is due to this concept that financial statements are prepared at regular intervals, generally one year.
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.
Discuss in brief the basic principles of accounting.
"Every transaction affects at least three accounts." Comment.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain the money measurement principle of accounting.
Explain the Dual Aspect Principle.
“The principle of full disclosure and principle of materiality are contradictory.” Comment.
