0
Double entry system owes its origin to an Italian merchant named Luco Pacioli who wrote the first book entitled 'Depository Computies et Scrituris' on double entry accounting in the year 1494. We have seen earlier that every business transaction has two aspects, i.e., when we receive something we give something we give something else in return. For example, when we purchase goods for cash, we receive goods and give cash in return; similarly in a credit sale of goods, goods are given to the customer and the customer becomes debtor for the amount of goods sold to him. This method of writing every transaction in two accounts is known as Double Entry System of Accounting.
What else can I help you with?
Double account system?
Type your answer here double accout system is the system where all the entry has to be kept as a double. ...
3 Explain how the lockbox system can improve the efficiency of cash management?
Explain how the lockbox system can improve the efficiency of cash management.
Advantages of double-entry book-keeping system?
advantages of double-entry book-keeping system?
WhAT IS THE Difference between double account system and double entry system?
The difference between double account system and double entry systems are noted below: 1. Double account system is necessary only for Govt. service rendering org. but double entry system is applicable for all types of org. 2. In double account system balance sheet is divided into two part ie; Capital Account, and general balance sheet but in double entry system only one balance sheet is prepared.
What are two reasons why a company should use a system of management accounts?
state two reasons why a company should use a system of management accounts
Briefly explain the reasons for organizational change in an organization?
explain the reasons for organizational change
Discuss the popularity of operating system?
An operating system is a necessary concept of using a modern computer. It is not a matter of "popularity."
Explain the general reasons why information system may not succeed?
Information systems may not succeed because they have the wrong people operating them. Another reason why an information system may fail is because it is dated.
How do you explain why an organism is considered an open system?
Explain why an organism is considered an open system.
Explain the flow of current in ignition system?
explain the flow of current in ignition system
Why UNIX is amazingly successful operating system?
Because the minimum number of keystrokes achieve the maximum effort. In addition, the system says very little to explain errors and relies on the intelligence of the user to deduce reasons for failure.
What is an operating system Explain different components of the operating system in detail?
explain the different components of operating system in details
5 Explain integrated microwave FDM system?
Explain integrated microwave FDM system.
Has gained popularity as an open-source operating system?
Linux
Double account system?
Type your answer here double accout system is the system where all the entry has to be kept as a double. ...
Name and explain five resources of an Operating System?
name and explain five categories of opareting system
In game of volleyball explain what is meant by a 5-1 setting system and explain why it could be successful?
explain what is meant by a 5-1 setting system and explain whyn it could be successful
