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Class : 11
Unit : Account

State any three features of double entry system.

Ans : Any two features of double entry system. a. Double effect:-Double entry system assumes that every financial transaction affect two sides which are described as the debit and the credit. b. Equal effect:-According to the concept of double entry system the debit and credit sides are influenced by equal amount. c. Scientific system:-Double entry system is scientific system because it is based on various principles, conventions and assumptions.
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