WAEC Accounting 2023 Objective — Question 10
Question 10 of 50 from the West African Examinations Council (WAEC) Accounting 2023 Objective paper, with the correct answer and a full explanation.
Advertisement
The concept which underlies double entry bookkeeping is
- A. accrual concept.
- B. duality concept.Correct
- C. money measurement concept.
- D. historical cost concept.
Explanation
The duality concept states that every financial transaction has two entries - the fundamental principle of double entry bookkeeping.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.