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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
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 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
what is Dual Accounting
 Question Submitted By :: Prasahnth Kuamar
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is Dual Accounting
Answer
# 1
dual accounting is a douable entry system.this is two
accpets .one accepetis debit anther accpets is credit.my
knowledge is this but any mistake of this question
retification pleaseaccpet.









siva kumar
 
Is This Answer Correct ?    8 Yes 15 No
Siva Kumar
 
  Re: what is Dual Accounting
Answer
# 2
Dual Accounting is a double entry system,wherein both debit
and credit aspect of a transaction is recorded.Each
transaction has equivalent debit and credit ledger.
 
Is This Answer Correct ?    31 Yes 3 No
Husna
 
 
 
  Re: what is Dual Accounting
Answer
# 3
Dual Accounting is a double entry system. There is must
tally the both side i.e debit and credit, so transaction has
equivalent debit and credit ledger accounts in the account
books.
 
Is This Answer Correct ?    11 Yes 5 No
Narasimhulu
 
  Re: what is Dual Accounting
Answer
# 4
Dual Accounting is a double entry system,wherein both debit
and credit aspect of a transaction is recorded.Each
transaction has equivalent debit and credit ledger ledger
accounts in the account books
 
Is This Answer Correct ?    9 Yes 3 No
Hareesh.p
 
  Re: what is Dual Accounting
Answer
# 5
Dual Accounting is, in which the Transactions enters in
both the Debit & Credit side of the accounts. Where also in
Ledger it goes into both the sides of Debit and Credit Note
of Transactions.

In another term it is also known as Contra Entry System.
 
Is This Answer Correct ?    5 Yes 3 No
Santosh
 
  Re: what is Dual Accounting
Answer
# 6
The indian accounting principles are divided in to two
types accounting concepts, and conventions and one of the
of the accounting concept is dual aspect of accounting
system according to this system every journal entry should
be posted according to double entry system means for every
debit there should be equal credit to what comes in debit
it should comes in credit also and its a successful system
of double entry system
 
Is This Answer Correct ?    6 Yes 2 No
Mohd Zubair
 
  Re: what is Dual Accounting
Answer
# 7
Dual Accounting is a double entry system,wherein both debit
and credit aspect of a transaction is recorded.Each
transaction has equivalent debit and credit ledger
 
Is This Answer Correct ?    4 Yes 0 No
Musaib
 
  Re: what is Dual Accounting
Answer
# 8
dual accounting concept is nothing but double entry
system,where debit transactions will b recoreded in debit
side and credit transactions will b recorded in credit
side,finally ledger accounts will b prepared for both debit
and credit transactions.
 
Is This Answer Correct ?    3 Yes 2 No
Ravi Kumar.p
 
  Re: what is Dual Accounting
Answer
# 9
DUAL ACCOUNTING IS ALSO CALLED AS DOUBLE ENTRY SYSTEM IT
STRARTED IN 1942 BY "LUCAPACLIO" AS PER INDIAN GAAP THE
DOUBLE ENTRY SYSTEM MEANS "EVERY DEBIT THRER MUST BE A
CORRESPONDING CREDIT"
EXAMPLE :

PURCHASED OD GOODS FROM Y AND CO.

IT MAINLY DESRIBES FROM THE GENERAL RULES OF ACCOUNTING

DEBIT THE RECEVIER CREDIT THE GIVER
DEBIT WHAT COMES IN CREDIT WHAT GOES OUT
 
Is This Answer Correct ?    10 Yes 1 No
Shaik Nizamuddin
 
  Re: what is Dual Accounting
Answer
# 10
Accounting method where two entries, one credit and one
debit, are made for each transaction. For example, if an
item of stock is purchased for 100, the payment of 100 is
reflected in the debit account, while the new item of stock
value of 100 is entered in the stock account. Under this
method of accounting assets equal liabilities, and a balance
sheet should balance the two.

Asset=liabilities+owners equity
 
Is This Answer Correct ?    4 Yes 3 No
Shaik Nizamuddin
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
Expand---------MRDT   1
expand I T A T   2
EXPAND___________MDS   1
In Proprietorship Accounting How Does The Entry Made Of Salary To XYZ When XYZ Become The Proprietor Of The company?   3
What is the meaning of Contingent Liability? Where is it shown in the Balance Sheet? Thomson 4
Difference between single and double entry?   4
Debut increases,Credit decreases in-------------- Credit increases, debit decreases in-------------   1
Distinguish between trade bill and Accommodation bill DELL 3
what are the golden principle of accounting? Capital-IQ 9
why do u prepare trial balance   6
ABC is a person he is paying rent every month last month he did not paid the rent and current month he paid this month rent and also last month rent. so now what is the journal entry? Amazon 2
what is different between LC's and BG's IVRCL 1
 
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