Money received from a customer is recorded in the customer’s account and bank account; the…

Money received from a customer is recorded in the customer’s account and bank account; the accounting concept applied is

  • A.
    business entity
  • B.
    dual aspect
  • C.
    going-concern
  • D.
    money measurement
Correct Answer: Option B
Explanation

The dual aspect concept states that every business transaction requires recordation in two different accounts.

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