The difference between double entry and single entry is
FINANCIAL
JAMB 2019
The difference between double entry and single entry is
- A. double entry is based on the dual concept while single entry is not based on dual concept
- B. double entry is an account while single entry is not an account
- C. double entry keeps personal account while single does not
- D. double entry is useful for business enterprise while single entry is not
Correct Answer: A. double entry is based on the dual concept while single entry is not based on dual concept
Explanation
Double entry is based on dual concept, i.e two-fold aspect of transaction whereby single entry ignored the principle of double entry
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