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Let me know the differences between singlr entry and double
entry system of accounts
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Answer Posted / shameem
1.Double entry maintains a complete record of (a)personal
accounts,(b)real accounts, and (c)nominal accounts
whereas single entry is an incomplete record,only personal
accounts and cash accounts are maintained
2.Double entry is the only scientific system of keeping
books of accounts, whereas single entry is not a system,it
is incomplete and unscientific
| Is This Answer Correct ? | 4 Yes | 2 No |
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