Question

Single entry system is otherwise called

Answer 1

Answer:

Single-entry bookkeeping system also known as Single-entry accounting system is a method of bookkeeping relying on a one sided accounting entry to maintain financial information. It is also known as Incomplete records.

A single entry system records each accounting transaction with a single entry to the accounting records, rather than the more common double entry system. The single entry system is centered on the results of a business that are reported in the income statement.

Answer 2

Answer:

Single-entry bookkeeping system also known as Single-entry accounting system is a method of bookkeeping relying on a one sided accounting entry to maintain financial information. It is also known as Incomplete records.