Question

what is single entry? ​

Answer 1

Answer:

A single entry system records each accounting transaction with a single entry to the accounting records, rather than the vastly more widespread 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

• A single entry system records each accounting transaction with a single entry to the accounting records, rather than the vastly more widespread double entry system.
• Single entry system is an incomplete form of recording financial transactions.
• It is the system, which does not record two aspects or accounts of all the financial transactions

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