What Is Meant by the Concept of Duality? Illustrate Your $\bullet$

question 55

Essay

What is meant by the concept of duality? Illustrate your answer with respect to the following three transactions (events):
$\bullet$ Entity paid wages for services provided in the preceding fortnight.
$\bullet$ Entity issued shares for land.
$\bullet$ Entity paid $30 000 cash for equipment to be used in the business

---

Definitions:

Revenue Received

The actual income that a company or organization receives during a specific period, typically from sales of goods or services.

Operational Performance

Evaluation of an organization's effectiveness in producing its goods or services, considering efficiency and productivity.

EBIT

EBIT, an indicator of corporate earnings, captures the profit of a company by including all costs except for those related to interest and taxes.

Income Taxes

Taxes imposed by the government on income generated by businesses and individuals within their jurisdiction.