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An event that has a dual effect on the accounting equation is referred to as a(n)_______
a. direct effect.
b. transaction.
c. investment.
d. indirect effect.

Sagot :

gauravsingh23VT

An event that has a dual effect on the accounting equation is referred to as a transaction. Hence, option B is correct.

What is dual effect on the accounting?

According to the dual aspect notion, every business transaction has a dual or a two-way impact. This implies that a specific business transaction involves a minimum of two accounts when it is documented in the books of accounts.

This principle is the foundation of the double entry system of accounting. The dual effect principle is the underlying or fundamental accounting idea.

Thus, option B is correct.

For more details about dual effect on the accounting, click here:

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