Exchange Currency

duality concept

An accounting principle that recognizes the dual impact of business transactions on the cash flow ledger or the balance sheet. For instance, an acquired asset is added to the asset side of the balance sheet while the debt used to acquire the asset is added to the liability side.

Related information about duality concept:
  1. DUALITY CONCEPT DEFINITION
    DUALITY CONCEPT is the foundation of the universally applicable double entry book keeping system. It stems from the fact that every transaction has a double ...
     
  2. What is duality concept? definition and meaning
    Definition of duality concept: An accounting principle that recognizes the dual impact of business transactions on the cash flow ledger or the balance sheet.
     
  3. What is the duality concept
    The Duality Concept in accounting means that under this system all transactions are of a twofold nature and this means that data will be recorded in 2 accounts ...
     
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    One May day, in 2008, I came across three blogs. One blogger wrote of “The duality concept,” pointing out that it doesn't really exist; that...
     
  6. Duality (video game concept)
    However it can only be considered a duality concept when the conflict is depicted as everlasting and never having any true resolution. For example the endless ...
     
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