BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. The double-entry system also requires that for all transactions, the amounts entered as debits must be equal to the amounts entered as credits.

Detailed explanation-2: -A Double-entry system means that for recording any financial transaction related to business, the accountant should record the effect in at least two accounts in which one should be debit and the other should be credited. The balance of both the debit and credit accounts should be in balance with each other.

Detailed explanation-3: -Double-entry bookkeeping is a method of recording transactions where for every business transaction, an entry is recorded in at least two accounts as a debit or credit. In a double-entry system, the amounts recorded as debits must be equal to the amounts recorded as credits.

Detailed explanation-4: -In the double-entry system, transactions are recorded in terms of debits and credits. Since a debit in one account offsets a credit in another, the sum of all debits must equal the sum of all credits.

Detailed explanation-5: -Double-entry accounting is a system of bookkeeping that accountants use to record every financial transaction twice: once as a debit and then as a credit. Debits represent money paid into an account, and credits represent value transferred out of an account.