The accounting system in which only one aspect of transaction is recorded is
FINANCIAL
JAMB 2023
The accounting system in which only one aspect of transaction is recorded is
- A. single entry
- B. single column cash book
- C. original entry
- D. double entry
Correct Answer: A. single entry
Explanation
The single entry system in accounting is an accounting approach under which every accounting transaction is recorded with only a single entry in the accounting records, centered on the business enterprise's results, which are shown in the statement of income of the company.
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