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Which system of accounting cannot be followed by big business organisation?

Asked by Topperlearning User 9th June 2016, 12:49 PM
Answered by Expert
Answer:

Single entry system of accounting cannot be followed by big business organisation because it is an incomplete system of maintaining records of financial transaction. It does not record two effects of every transaction. It maintains only personal account and cash book and ignores all the other accounts. Under this system, the accounts maintained are not complete, and therefore they are not reliable. Only small business organisation can follow single entry system. 

Answered by Expert 9th June 2016, 2:49 PM
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