Executive Accounts Question: Download Executive Account PDF
Explain what is the dual aspect concept?
Answer:
Dual aspect concept: Each transaction has two sides. Example: when you buy a shirt, then shirt comes to you while cash leaves you similarly if you sell the same shirt to anyone then cash comes to you while shirt leaves you. Recording both aspects of coming and going is called dual aspect concept.
| Previous Question | Next Question |
| What is it about our company that makes you want to work for us specifically? | How do you keep yourself motivated? |