______________ can not maintain accounting records under single entry system as per legal
requirement
(a) companies (b) Sole proprietors
(c) partnership firms (d) petty shops
Answers
Answered by
4
Answer:
b) Sole proprietors is your answer
Answered by
0
Answer:
Companies cannot maintain their accounting records under single entry system
Explanation:
As per the companies act, 2013, any limited company cannot maintain their books of accounts under single entry, they should be maintained in double entry system of accounts.
Problems with single entry system
- In case of single entry system of accounting many transactions are omitted.
- Accounting standards are not maintained
- It is difficult to arrive at the verify books of accounts
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