concept states that every transaction impacts two accounts that accounting equation always holds true.

Going Concern

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Money Measurement

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Business Entity

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Dual Aspect

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Solution

The correct option is D Dual Aspect
Dual aspect concept states that every transaction impacts two accounts that accounting equation always holds true. According to dual aspect concept for every debit, there is equal credit.

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Similar questions

Under which of the following accounting principles, every transaction impacts two accounts that accounting equation holds true always.

According to which concept, Accounting equation will always hold true?

Which accounting concept uses the rules " Every transaction effects two or more ledger accounts"?

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