BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -As per the Dual aspect concept, every business transaction has a debit effect with equal and corresponding credit effect which is a base for the double-entry system.

Detailed explanation-2: -Debits increase asset or expense accounts and decrease liability, revenue or equity accounts. Credits do the reverse. When recording a transaction, every debit entry must have a corresponding credit entry for the same dollar amount, or vice-versa. Debits and credits are a critical part of double-entry bookkeeping.

Detailed explanation-3: -Solution. Every debit has corresponding Credit.

Detailed explanation-4: -Debit Versus Credit Entries: Debit entries will always increase assets and expense accounts, while credit entries will always increase revenue, liabilities, and shareholder equity accounts. This is true for all companies in all industries.

Detailed explanation-5: -The double-entry system has two equal and corresponding sides known as debit and credit. A transaction in double-entry bookkeeping always affects at least two accounts, always includes at least one debit and one credit, and always has total debits and total credits that are equal.