The dual effect of transactions means that every transaction recorded: A.Must be entered twice-once in the accounting records and once in a financial statements B.Must make changes to accounts in two seperate financial statements C.Must have an effect on the dual sides of the Accounting Equation D.Must record changes to two accounts and only two accounts E.Must make at least two changes in its Assets,Liability and Owners Equity accounts

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is