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3. State the meanings of double entry system of book
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keeping

Sagot :

GinnyAnsweridn

Final answer:

The double-entry system in accounting ensures transactions are accurately recorded by balancing debits and credits.


Explanation:

Double-entry system of bookkeeping is a fundamental concept in accounting where every transaction affects at least two accounts, ensuring that debits and credits are always equal. This system helps maintain accuracy and enables the detection of errors in financial records.


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