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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 not useful for large organizations.
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Answer

This statement is True.
Under the Single Entry System, only the cash book and personal account of Debtor and Ciygditor are maintained. Real and Nominal accounts are not maintained. It has no proper set of rules to be followed. It is useful for small organisations and not for a large organisations.

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