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Question
This principle suggests that every debit has a corresponding and equal credit.
Options
Matching principle
Principle of full disclosure
Dual aspect principle
Realisation concept
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Solution
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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