Accountancy, asked by roshangmailcom1192, 1 year ago

Under Single Entry System it is not possible to prepare Trial Balance. (State True or False)

Answers

Answered by nikki6966

True
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Answered by sawakkincsem

Answer:

True, under Single Entry System it is not possible to prepare Trial Balance.

Explanation:

Single Entry system records the income statement only. For trial balance, comparison of two sums : total debits and total credits is required. There is no linkage among the transactions or the available information. Hence, under Single Entry System it is not possible to prepare Trial Balance.

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