Single entry system of book – keeping is generally followed by:

Related MCQs

• Single entry system of book keeping system
• Meaning of single entry system of book keeping is
• Single entry book-keeping means
• ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper
• Under single entry system the main account book kept is
• Procedure of conversion of Single entry books into Double entry
• To obtain the amount of credit sales made during an accounting period, which account is generally used in single entry and incomplete records?
• The system of keeping accounts generally adopted by small size branches are:
• Debtors system of keeping branch accounts are generally
• Which of the following statements is/are true? (i) Cash Book records all cash receipts and cash payments (ii) Cash Book records all sale and purchase transactions of goods both in cash and on credit (iii) Cash Book records discount on Cash Payments