Question

Question 7
Under ------------system, twofold effect for each transaction is not given.
Double Entry
Single Entry
Inventory
Accounting​

Answer 1

Answer:

The accurate answer is Double Entry.

Explanation:

A procedure of recording that recognizes both sides of business proceedings by debiting the amount of the proceedings to one account and crediting it to another account so the total debits equal the total credits. Double-entry recording produces reports that allow investors, banks, and potential buyers to get an accurate and full picture of the financial health of your business. Accountants and bookkeepers can do a small business's double-entry bookkeeping. denoting a system of recording in which each proceeding is entered as a debit in one account and a credit in another.

Hence, the correct answer is Double Entry.

#SPJ3