Question

    According to the dual aspect concept in accounting, how

    does each business transaction affect the accounts involved?
    A It is recorded only when cash is Involved. Correct Answer Incorrect Answer
    B It affects two accounts on their respective opposite sides Correct Answer Incorrect Answer
    C It Impacts two accounts on the same side. Correct Answer Incorrect Answer
    D It affects only the income side of the business. Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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