CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

Which book is properly written in single entry system?

Open in App
Solution

Dear student
Under single entry system both aspect of accounting transaction i.e. Debit and Credit are not recorded as in the case of Double entry system hence it is not possible to prepare Balance sheet as per single entry system. So instead of balance sheet "A statement of affair" is prepared under this system.
Hence "statement of affairs" is the book which is written in single entry system.

Regards

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Introduction to Cash Flow Statement
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon