Accountancy, asked by remantkakkar7609, 1 year ago

Difference between general accounting system and double account system

Answers

Answered by sourya1794
16

Explanation:

Under Single Account System, the purpose of preparing accounts is to show the financial position of a firm at a particular date whereas, under Double Account System, the purpose is to show the amount of capital received and the application of the same in fixed assets.

Answered by Anonymous
0

Answer:

Explanation:

(b) Under Single Account System, the purpose of preparing accounts is to show the financial position of a firm at a particular date whereas, under Double Account System, the purpose is to show the amount of capital received and the application of the same in fixed assets.

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