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What is meant by Double Entry System?

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In short, the basic principle of this system is, for every debit, there must be a corresponding credit of equal amount and for every credit, there must be a corresponding debit of equal amount.
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I have registered as a home tutor but i am not getting any messages.

PLEASE take premium membership of UrbanPro you will definitely received home tuition enquiry.
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What are the fixed assets? Give example.
as per as 10 fixed asset is an asset which is beingh kept in the business for the purpose producing goods or rendering services i e that asset is not being held for the purpose of sale in the normal course...
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What is meant by Capital?
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How to become a tutor in urbanpro? 

 

TO BECOME A TUTOR IN URBON PRO YOU HAVE DOWNLOAD THE URBAN PRO TUTOR APP FROM PAY STORE . SIGN IN WITH DETAILS . CREATE A PROFILE WHICH WILL ACT AS . ADD VERFICATION DOCUMENTS AND ALL NECESARY DETAILS . TO CONTINOU TUTOR HAVE TO LOGIN TO THE PORTAL
Kiruthiga

What do you mean by principal of conservatism in accountancy?

The conservatism concept is a concept in accounting which refers to the idea that expenses and liabilities should be recognised as soon as possible in a situation where there is uncertainty about the possible...
Akash

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Why Capital is considered as Internal Liability
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Flow chart for Provisions relating to Interest on Capital/ How to understand how much interest on Capital to take?
You have to undertake 3 step verification for identification of provisions relating to interest on capital: 1. Is Interest on capital a Charge in the question mentioned; YES- Take full amount of Interest...

Definition and Meaning of Trial Balance
A trial balance is a financial statement that lists the balances of a company's general ledger accounts at a specific point in time. It ensures that the total debits equal total credits, helping in the preparation of accurate financial statements.

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Whenever we start doing business, a number of transactions take place. For example, if we start a business of say, a book store (i.e. we’ll be buying books from wholesalers and publishers, and selling...

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