In the standard accounting system,we use double entry accounting,which means we record the dual effects of each transaction.

Name: In the standard accounting system,we use double entry accounting,which means we record the dual effects of each transaction.
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Double entry accounting is a fundamental accounting concept that requires every transaction to have at least two effects- a debit and a credit- so that the accounting equation (Assets=Liabilities+Equity) remains balanced.

In the Standard Accounting System,we Use Double Entry Accounting,which Means