Answer in one sentence only first question what is double entry system second question what is an account third question state the meaning of single entry system 4 question what is personal account fifth question state the rule of nominal account 11th standard account question commerce please give me answer please
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Double entry system refers to the system under which any when made effects at 2 accounts and its effect is eqal and opposite...
Our accountancy is based on the same principle...
Answer no. 2 : An account is a record in the general ledger that is used to sort and store transaction..
Answer no. 3 : single entry system is an incomplete form of recording business transaction.. This system do not have fixed set of rules to record the business transaction..
Answer no. 4 : Personal accounts are related to an individual, firms, companies etc.
Answer no. 5 : Rule for nominal account is Debit all expenses and lossess, credit all income and gains
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