Case study of single entry system
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A single entry is a technique that is being used for cash-basis accounting.
Explanation:
- We can record financial transaction from this method but yet is considered as an incomplete method.
- Only one aspect of the system can be studied from this method that is why it is called single entry.
- Cash disbursements and cash receipts can be recorded with the hope of a single entry method.
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Advantages of single entry system?
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A single entry is a technique that is being used for cash basis accounting
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