What is Double Entry System ?
Answers were Sorted based on User's Feedback
Answer / abdullah amer
Double entry system is a system in which the two aspects
of the transaction is recorded in term of Debit and Credit.
Is This Answer Correct ? | 9 Yes | 0 No |
Answer / prakash
In double entry system every transaction affects atleast
two accounts. i.e. one debit and one credit.
ex: salaries paid by cash.
Here this transaction entry will be made by debiting
salaries and crediting cash.
Is This Answer Correct ? | 7 Yes | 0 No |
Answer / siddaraja2020
double entry system means both receiving and givining
aspects are takes place.that is every credit has it's
corresponding debit and every debit has it's correspondig
debit.
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / hemant
Double Entry systme means in the case of any transation
must be effected the two different accounts
one is dabit then one is credit
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / sandhya
double entry system is a system in which two aspects
i.e,debit & credit.
for every debit is equal to corresponding credit transcation
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / vijay gombi
Two fold aspect of each and every transaction are recording
in the same transaction is called Double Entry system.
for ex-
if one account is debited another one or more accounts
will be credited and final debit and credit balance of same
transaction must be tally
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / surendrareddy
Douuble entyr system accounting is the Cash and Bank
coloumns in to the both side of the book.
Is This Answer Correct ? | 1 Yes | 3 No |
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