The Child or Spouse will: 1  Be a Florida resident and a U.S. citizen or eligible non-citizen. 2  Not owe a repayment or be in default under any state or federal grant, loan, or scholarship program unless satisfactory arrangements to repay have been made. 3  Not have previously received a baccalaureate degree.
Answer Wiki. Dual effect accounting being one of the fundamentals of accounting means that each and every transaction entered into by any business enterprise has two aspects namely debit and credit, thereby two effects on the books of accounts. Only by recognizing both the effects in the books, they would tally i.e. a fair view may be established to an extent. The Balance sheet which shows sources of funds and application of funds itself answers this question as to why dual effect has to be recognized. An asset may be created by either decreasing another asset or increasing a liability.
DEFINITION of 'Accounting Equation'. The equation that is the foundation of double entry accounting. The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company's shareholders.Thus, the accounting equation is: Assets = Liabilities + Shareholder Equity.The balance sheet is a complex display of this equation, showing that the total assets of a company are equal to the total of liabilities and shareholder equity.ny purchase or sale by an accounting equity has an equal effect on both sides of the equation, or offsetting effects on the same side of the equation. The accounting equation is also written as Liabilities = Assets â Shareholder Equity and Shareholder Equity = Assets â Liabilities. Next Up.