Saved Bookmarks
| 1. |
Every debit must have a corresponding credit . Discuss |
| Answer» Every debit must have a corresponding credit. According to Dual Aspect Concept, every transaction has two aspects, a debit and credit of equal amount.Every entry into the financial records of a business must balance with an equal value in debits as in credits however there could be different numbers of debits and credits therefore not a one for one matching. In double-entry accounting every debit has a corresponding and equal credit. | |