The system of recording transactions based on dual aspect concept is called ........

Accountancy (Phase -I & II) Introduction to Accounting

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The system of recording transactions based on dual aspect concept is called:

double account system.

double entry system.

single entry system.

single account system.

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Explanation:

The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. The double-entry system also requires that for all transactions, the amounts entered as debits must be equal to the amounts entered as credits

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