Question

Single Entry and Double Entry Bookkeeping systems

23 Sep 2020
Answer :
Word Count : 612

Single entry system of bookkeeping, is economical but at the same time it is unscientific because it does not records all the transactions rather only a few ones are tracked and some are recorded partially. On the other hand, double

entry system of bookkeeping is based on fundamental prinicples of accounting and so it records each and every aspect of the transaction.

Basis for Comparison Single Entry System Double Entry System
Meaning The system of accounting in which only one sided entry is required to record financial transactions is Single Entry ____ ________ __________ ______ _________.
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