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Single Entry System — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancySingle Entry System2 Marks
Question
The single Entry System is based on certain rules and principles.
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Answer

This statement is False.
A single Entry System is an ancient method of recording business transactions. It is a simple method of book-keeping. It is not a scientific and accurate system of Accounting. This system has no proper set of rules to be followed.

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