Question on: JAMB Accounting - 2023
The principle of double entry developed from the axioms of accounting equation is given as
A
Liabilties + Equity = Net assets
B
Assets + Equity = Liabilities
C
Liabilities + Equity = Assets
D
Assets + Liability = Equity
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Correct Option: C
The principle of double entry in accounting, which developed from the axioms of the accounting equation, is a fundamental concept that ensures the integrity of financial records. This principle is based on the accounting equation:
Assets = Liabilities + Equity
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