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Defects of single entry system



Defects of single entry system..

Answer / sonali

This system does not track the assets and liabilities
account such as inventory, account receivable and account
payable.

It facilitates the calculation of income but not the
financial position. There is no direct linkage between the
income and the balancesheet.

Errors may go undetected and often are identified through
bank reconciliation statement

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