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The principle of double entry developed from the axioms of accounting equation is given as
Question 1
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The principle of double entry developed from the axioms of accounting equation is given as
Assets + Liability = Equity
Assets + Equity = Liabilities
Liabilities + Equity = Asset
Liabilities + Equity = Net assets
Answer Details
Liabilities + Equity = Asset is given as the fundamental equation
Read lesson note on The Accounting Equation And Double Entry Principle (WAEC)
The Accounting Equation And Double Entry Principle
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