Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Under Single entry System only _______________.
a) Personal accounts and cash A/c are opened
b) Real accounts are opened
c) Nominal accounts are opened
d) Real and nominal accounts are opened,

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Solution

Under Single entry System only personal accounts and cash A/c are opened.

Explanation: Real and nominal accounts are not maintained under single-entry system. Only personal and cash accounts and the cash and credit transactions (related to personal accounts) are recorded under this system.

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Similar questions

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Income and Expenditure Account is a ______________.
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5) Drawing account is a real account.
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Select the most appropriate answer the alternatives given below and rewrite the Sentences. Under Single entry System only _______________. a) Personal accounts and cash A/c are opened b) Real accounts are opened c) Nominal accounts are opened d) Real and nominal accounts are opened,

Under Single entry System only personal accounts and cash A/c are opened. Explanation: Real and nominal accounts are not maintained under single-entry system. Only personal and cash accounts and the cash and credit transactions (related to personal accounts) are recorded under this system.

Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Under Single entry System only _______________.
a) Personal accounts and cash A/c are opened
b) Real accounts are opened
c) Nominal accounts are opened
d) Real and nominal accounts are opened,

Under Single entry System only personal accounts and cash A/c are opened.

Explanation: Real and nominal accounts are not maintained under single-entry system. Only personal and cash accounts and the cash and credit transactions (related to personal accounts) are recorded under this system.