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Difference between single and double entry?

Answer Posted / nareshchowdary

once upon time used single entry systems. Now a days using
double accountnig system.
single entry means only cash iteams.
Ex:-Purchase A/c DR
To Cash
Double entry means Both Cash & Credit.
Ex:-Purchase A/c DR
To xxx
(Being Credit base)

Is This Answer Correct ?    15 Yes 19 No



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