Which of the following statements correctly describes the dual aspect convention of accounting?a A change...
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Accounting
Which of the following statements correctly describes the dual aspect convention of accounting?a A change in the value of assets leads to an equal change in the value of liabilities plus capitalb. If a transaction requires two debit entries, two credit entries must also be madec. Transactions are recorded in both a book of prime entry and the general ledgerd. Only two ledger accounts will be needed to record any transaction
Which of the following statements correctly describes the dual aspect convention of accounting?a A change in the value of assets leads to an equal change in the value of liabilities plus capitalb. If a transaction requires two debit entries, two credit entries must also be madec. Transactions are recorded in both a book of prime entry and the general ledgerd. Only two ledger accounts will be needed to record any transaction
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