Ledger Question: Download Questions PDF
Can you please explain the difference between Single Entry system & Double entry system?
Answer:
Single entry system use only Debit or Credit only. If the payment made there is only one one debit only but Double entry system means for every Debit there is opposite Credit also there.
Example : cash payment made some one
debit for party at the same time credit to Cash.
Example : cash payment made some one
debit for party at the same time credit to Cash.
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