In accounting all business transactions are recorded as having dual aspect ........

Accountancy (Phase -I & II) Others

In accounting, all business transactions are recorded as having dual aspect.

True

Partly True

False

None

- Option 1: True

- This option means every transaction has a dual effect. In accounting, this is known as the dual aspect concept or double-entry system.

- This ensures that every debit has a corresponding credit, keeping the accounting equation balanced.

- Option 2: Partly True

- This suggests some transactions may not have dual aspects. However, in traditional accounting practice, all transactions recognize dual effects.

- Option 3: False

- This would mean transactions do not follow dual aspects, which contradicts the basics of accounting principles.

- Option 4: None

- Suggests no option is correct, which is not applicable here.

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