The correct answer is Equal debit and credit entries are made for each transaction. The double Entry System of accounting is based on the dual aspect of accounting. The dual aspect of accounting says that every transaction will have two effects in the books of account. For every debit, there will be a credit of the same amount and vice versa. Additional InformationDebit: It has been derived from the Italian word 'Debito', written on the left side of any account. Credit: It has been derived from the Italian word 'Credito', written on the right side of any account. Business Transaction: Any transaction recorded from the information provided on source documents and has an effect on the assets and liabilities of a business.