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What is double entry system?
Double entry system is also known as bookkeeping. As per the concept of double entry system, a company creates 2 accounts for their business transaction.
In equation form, it is depicted as,
Assets = liabilities + owner’s equity
Pros and cons of this system
We have given here few of the advantages and disadvantages. You will find all the details on our advantages and disadvantages assignment help service.
Advantages of this system
Disadvantages of this system
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