Concept:The dual aspect concept states that every financial transaction affects at least two accounts.
Explanation:When money is received from a customer, two effects occur.
First, the customer's account is credited because the amount owed by the customer decreases.
Second, the bank account is debited because cash or bank balance increases.
This shows that each transaction has two sides: a debit and a credit.
These two entries are equal and opposite.
Recording the same transaction in both the customer's account and the bank account follows the principle of double entry.
This principle is known as the dual aspect concept.
Answer:B. dual aspect.