CBSE Class 11-commerce Answered
Justify,
whether books maintained by the single entry system is reliable as the books
maintained by the double entry system.
Asked by Topperlearning User | 04 Jul, 2016, 08:16: AM
Expert Answer
Double entry system of accounting records both aspects of a transaction. Hence it is able to provide accurate information as to profit, liabilities and assets. While single entry system of accounting does not record all transactions in certain cases. Sometimes it records both aspects but still only in some aspect. So, single entry system is less reliable than double entry system of book keeping.
Answered by | 04 Jul, 2016, 10:16: AM
CBSE 11-commerce - Accountancy Part II
Asked by Topperlearning User | 04 Jul, 2016, 08:16: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part II
Asked by Topperlearning User | 04 Jul, 2016, 08:16: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part II
Asked by Topperlearning User | 04 Jul, 2016, 08:16: AM
ANSWERED BY EXPERT