Single entry system is most popular for ____________.

Sole trader

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Government

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Company

No worries! We‘ve got your back. Try BYJU‘S free classes today!

All of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Sole trader
Normally Single entry system is maintained by small traders as it do not require special set of book-keeping and expert accounting knowledge. Hence, it becomes hassle free for traders to ascertain their profit of loss earned by the business through single entry system.

Suggest Corrections

Similar questions

In both, single entry system and a double entry system, accounting records are maintained due to a common objective. State the objective.

Can a limited company maintain its accounts under single entry system ?

Join BYJU'S Learning Program