Define Dual aspect concept in Financial Accounts. – InterviewSolution

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1.	Define Dual aspect concept in Financial Accounts.
Answer» <p>Dual Aspect Concept, also known as Duality Principle, is a fundamental convention ofaccountingthat necessitates the recognition of allaspectsof anaccountingtransaction.Dual aspect conceptis the underlying basis for double entryaccountingsystem.</p>

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