BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Double entry system operates on the basis of dual aspect concept which states that every transaction has a debit and its corresponding credit. Iuca pacioli invented this system and gave the rule as stated above . He was also follower of Leo da vinci. Was this answer helpful?

Detailed explanation-2: -Luca Pacioli, a Franciscan friar and collaborator of Leonardo da Vinci, first codified the system in his mathematics textbook Summa de arithmetica, geometria, proportioni et proportionalità published in Venice in 1494.

Detailed explanation-3: -Of course the history of accounting and indeed, the double entry system of accounting cannot be complete without bringing the wonderful work of Luca Pacioli into perspective. In 1494, the principles of double entry bookkeeping were put into print by him.

Detailed explanation-4: -But the father of modern accounting is Italian Luca Pacioli, who in 1494 first described the system of double-entry bookkeeping used by Venetian merchants in his Summa de Arithmetica, Geometria, Proportioni et Proportionalita.