Question

What do you mean by a pure single entry system?

Answer 1

A pure single entry system records all the personal accounts like sundry debtors and sundry creditors. In this system dual aspect of accounting is not followed.

It is mainly used for maintaining personal accounts of debtors and creditors and also for maintaining cash books.

It fails to provide the true value of profit or loss and the financial state of the organisation.

Also read:

• Accounting MCQs
• Difference Between Bookkeeping and Accounting
• Dual Aspect Concept in Accounting

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