The duality of effect can be described as follows A. When a transaction is recorded in the accounting system at least two effects on the basic...

The duality of effect can be described as followsA. When a transaction is recorded in the accounting system at least two effects on the basic accounting equation will resultB. When an exchange takes place between two parties, both parties must record the transactionC. When a transaction is recorded both the balance sheet and the income statement must be impactedD. When a transaction is recorded, one account will always increase and on account will always decrease