what do you mean by double entry system of accounting
Double-entry bookkeeping system Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. For instance, recording earnings of $100 would require making two entries: a debit entry of $100 to an account named "Cash" and a credit entry of $100 to an account named "Revenue."[further explanation needed]
Economic nationalism While the coining of the term "
Economics Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design.[37] Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.[38]
Invoice processing Once the invoice has been approved and there have been no variances, the invoice is posted into the accounting system.[1][2][3][4]