passwella.
Menu

WAEC Financial Accounting 2023 Question 10

Question 10

Accounting Concepts and Conventions

The concept which underlies double entry bookkeeping is

  1. A.accrual concept.
  2. B.duality concept.
  3. C.money measurement concept.
  4. D.historical cost concept.
Show the answer and explanation

Answer: B (duality concept.)

Explanation

Every transaction has two aspects, a debit and a credit: duality.