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What is Double Entry System ?

Answers were Sorted based on User's Feedback



What is Double Entry System ?..

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

What is Double Entry System ?..

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

What is Double Entry System ?..

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

What is Double Entry System ?..

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

What is Double Entry System ?..

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

What is Double Entry System ?..

Answer / triloksharma71

NA

Is This Answer Correct ?    0 Yes 0 No

What is Double Entry System ?..

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

What is Double Entry System ?..

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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