Question:
In single entry system_____are recorded.
In single entry system_____are recorded.
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The single entry system is simple and economical but lacks accuracy and completeness as it omits credit transactions.
Updated On: Dec 18, 2024
- cash receipts
- cash payments
- Both cash receipts and cash payments
- Credit transactions
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The Correct Option is C
Solution and Explanation
The Single Entry System records only cash receipts and cash payments. It does not record credit transactions or maintain a complete double-entry system.
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