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Answer Posted / showkath ali
Dual Concept is one of the basic concepts of Accounts.
As per Dual contcept every debit having same and opposit
credit.
There are two types of Accounts 1. Single entry system 2.
Dual entry System.
Companies are prohibited to follow Single entry system.
Accuracy of accounts can be measure by preparing Trail
Balance. Trail balance could be balance only when follow
the dual entry concept.
Suppose:
You start a bussiness by Rs.100000/- you create an entry as
Cash A/C Dr
To Capital Accounts
Due to above entry in trail balance capital account join in
liability side and cash accounts reflects at Assets side.
| Is This Answer Correct ? | 18 Yes | 4 No |
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