Single-entry bookkeeping, also known as, single-entry accounting, is a method of bookkeeping that relies on a one-sided accounting entry to maintain financial information.
Single entry system is an incomplete system of maintaining records of financial transaction. It does not record two aspects of every transaction. It maintains only personal account and cash book and ignores all other accounts. Under this system, the accounts maintained are not complete, and therefore are not reliable.
Answers & Comments
Answer:
Single-entry bookkeeping, also known as, single-entry accounting, is a method of bookkeeping that relies on a one-sided accounting entry to maintain financial information.
Answer:
I hope it may helps you
☺☺☺☺☺☺☺☺☺
Explanation:
Single entry system is an incomplete system of maintaining records of financial transaction. It does not record two aspects of every transaction. It maintains only personal account and cash book and ignores all other accounts. Under this system, the accounts maintained are not complete, and therefore are not reliable.