Tag: introduction to single entry system and difference between single entry and double entry system
Questions Related to introduction to single entry system and difference between single entry and double entry system
Balance of interest on calls-on-advance account is transferred to the ___________ at the end of the year.
From the following find out the total drawing during the year.
Total assets at the beginning of the year Rs.20,000, total assets at the end of the year 15,000, net profit during the year Rs.7000.
In Double Entry System, if one account is debited the other account must be credited with equal amount.
Book-keeping is helpful for ___________.
The job of recording transaction has been called as "Book-keeping"
Book-keeping helps the management in _____________.
Which of the following is/are the advantage of double entry system of book-keeping?
How many books are prepared under conventional accounting system?
In double entry system of book-keeping, one is receiver of benefit and other is giver of benefit.
The credit of evolving the present Double Entry Book-Keping System goes to a philosopher turned mathematician, Italian merchant ''Luca D Bargo Pacioli'' in 1494.