Give simple definition on Dual Entity Concept
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Answer / satyaki_raju@yahoo.com
The claims against the assets of the business unit are by
the creditors and owners.Therefore the total assets of a
business are equal to total liabilities at any time
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N N SALES: DEPT A 150000 DEPT B 2500 100000 newspaper 1000 rates 500 elect 250 salary 10000 stock 1/4/92 :dept A 2300 DEPT B - stock :1/4/93 dept A 1200 dept B 700 newspaper 300 prepare trading profit and loss account. thanx
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