yes
5 examples of single entry cash book
who invented single entry system
Small firms
i think you meant who has not who is
Providing true financial position
5 examples of single entry cash book
Single entry system is that system in which only one side of entry either debit or credit is recorded while the other side of transaction is ommitted while in double entry system, both side of transactions debit and credit are recorded to complete the business transaction.
who invented single entry system
Small firms
i think you meant who has not who is
Providing true financial position
There are many objectives of a single entry system. Balancing profit and loss, recording transactions, opening accounts, revealing financial position, and preparation of trial balance.
Account means a single entry in double entry system such as i purchase some thing for business i recorded for example Land debit and money credit these debit and credit are called accounts in accounting
single entry system
single entry means cash entry
"a system of book-keeping in which as a rule only records of cash and of personal accounts are mainted, it is always incomplete double entry, varying cicrumstances."
saddam