Question

is single entry system of accounting is not a legal system of accounting​

Answer 1

Answer:

Single-entry bookkeeping is an accounting system used to keep track of a business's finances. There is one entry per transaction and most entries record either incoming or outgoing funds.

Answer 2

Answer:

Single entry system ignores dual aspects (debit and credit) of transactions. It also ignores nominal account and real accounts. So, it is an incomplete system of recording transactions.

Explanation:

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