Question on: JAMB Accounting - 2023
Which of the following concepts recognizes the principle of double entry?
A
business entity
B
accrual
C
going concern
D
dual aspect
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Correct Option: D
The concept that recognizes the principle of double entry is 'dual aspect.' Dual aspect accounting means that every transaction has two aspects – a debit and a credit – which are recorded to maintain the accounting equation.
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