Accounting · Accounting Principles
Which of the following statements correctly describes the dual aspect concept in accounting?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Each business transaction has two-fold effects on the accounting records✓
- 2Each business transaction increases one account and decreases another
- 3Each business transaction decreases two accounts by the same amount
- 4Each business transaction increases two accounts by the same amount
Correct answer
Each business transaction has two-fold effects on the accounting records
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Accounting?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Accounting Principles MCQs →Want more practice questions on Accounting Principles?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Accounting · Accounting Principles