By which method of book-keeping can the exact financial position not be known?
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Answer:
by single entry system
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Answer:
Single entry system
Explanation:
By the single entry method of book-keeping the exact financial position can not be known.
Single entry system is an incomplete form of financial transaction reporting. It's the process that doesn't record two facets of all financial transactions or accounts. It is the process that does not have a fixed set of rules to monitor the business financial transactions. This accounting system is good enough only to keep the track of money, accounts payable, receivables, taxes paid and a few other accounts.
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