A. Recording two aspects of every transaction
B. Recording only one aspect of a transaction
C. Recording only cash transactions
D. None of these
Brief facts about this MCQs:
Double entry book keeping is a method of recording the business transaction by maintaining the two aspects of every transaction. And two aspects of a transaction are commonly refer as debit and credit sides or aspects. Moreover, Luca Pacioli was the person who loved numbers. He was a magicians and also a monk. He was the person who discovered Double Entry Book keeping system in Venice in 1494.