A

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Q. Double entry system of accounting is based on:

  • (A) Accounting Equation
  • (B) Matching Concept
  • (C) Going Concern Concept
  • (D) Cash Basis
  • Correct Answer - Option(A)
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  • Filed under category Accounting
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Explanation by: Admin
The double entry system uses the equation: Assets = Liabilities + Capital.

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