Question

Discussion of single entry system

Answer 1

single entry system is a bookkeeping relying on a one sided accounting entry to maintain financial imformation.
advantages of single entry system:-
1). a adily summary of cash receipts.
2). monthly summaries of cash recepiets and disbursement.

disadvantages:-
1). data may not be available to management for effectively planning.
2). single entry record administration of those assets may occur