Meaning and Fundamentals of Double Entry Book-Keeping — Book Keeping & Accountancy STD 11 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyMeaning and Fundamentals of Double Entry Book-Keeping1 Mark
Question
State the meaning of the Single Entry System.
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Answer
A book-keeping system in which only one aspect of every business transaction is considered and systematically recorded in the books of accounts and other aspects are completely ignored is called Single Entry System.
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