Home › CBSE Class 11 (Commerce) › Accountancy › Theory Base of Accounting › How is the single entry system described?
How is the single entry system described?
AA complete system
BA government system
CA lack of system
DA fully exact system
Answer & Solution
Correct answer: C. A lack of system
Some transactions have one aspect recorded and others both, so there is no uniformity.
Related questions
In accounting, what does the term 'convention' connote?What do Generally Accepted Accounting Principles aim to bring?Which existing tax was subsumed under CGST?Which GST component also covers imports of goods and services?Goods moved from Madhya Pradesh to Rajasthan attract which GST?Taxes collected under CGST form the revenue of whom?Who ultimately bears the burden of GST?GST is a tax based on which principle?