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प्रश्न
This principle suggests that every debit has a corresponding and equal credit.
पर्याय
Matching principle
Principle of full disclosure
Dual aspect principle
Realisation concept
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
According to the ______ Principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
Explain the need for GAAP for accounting.
Explain the concept of The Dual Aspect Principle.
GAAP stands for ______.
According to Business Entity Concept:
"Fixed assets should be valued at the market price." Comment.
Explain matching principle of accounting.
Explain Accounting Period Concept.
Explain the complete disclosure principle.
"The principle of full disclosure and principle of materiality are contradictory." Comment.
