what is the meaning of single entery system and double
entery system ?

Answer Posted / mohammed

single entry means recorded once in the financial statement


double entry means recorded twise in the financial statement

Is This Answer Correct ?    4 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Explain what is account receivable?

623


If i pay for general expense (and party provide me gst details) through credit card then how i can enter party details

948


Sir, Now, i am purchasing ply wood, board, and other material for my office furniture. But now the furniture is incomplete so what would be the journal entry for this exp. in book.

1507


payment voucher for advance salary

949


shares convert into share capital what is the journal entry? how many ledgers need to create?

1594






How do we calculate the cost of investment?

1300


Explain what is the disadvantage of double entry system?

611


Dear sir , 1-what is diffrence local tax & vat 2 -what is sales tax. tds. service tax challan & return due date(monthly & quartly, annually) 3- what is deprecation rate in company act 4-what is income tax latest limit-

1403


what is the responsiblities for accounts manager?

1486


Do you know what is a cpa?

591


Do you know partitioning in accounting?

624


Mention what does the investment of personal assets by the owner will do?

697


Who created snapit accounting?

623


What is meant by balancing?

602


when the ABC's personal bank to to his business bank money transferred(paid) then how to pass the entry.

1475