Why are some accounting systems called double accounting systems? - Bzziii

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Why are some accounting systems called double accounting systems?









Some accounting systems are called double accounting systems because every business transaction has a two-fold effect and that it affects two accounts in opposite directions and if a complete record were to be made of each such transaction, it would be necessary to debit one account and credit another account. that's means Every transaction affects two accounts simultaneously, that is represented by debiting one account and crediting the other account. It is based on the fact that if there is receiver, there should be a giver.

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