Accountancy, asked by raashuwani97, 6 months ago

what is single entry and its defects​

Answers

Answered by vdm2542
2

Answer:

Disadvantages or Defects of Single Entry System

Arithmetical accuracy cannot be checked as trial balance cannot be drawn under single entry system. Net Profit/Net Loss cannot be ascertained as nominal accounts are not maintained. Therefore, trading and profit and loss account can not be prepared.

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