Accountancy, asked by PragyaTbia, 1 year ago

What type of accounts are maintained under Single Entry System? (Answer in one sentence)

Answers

Answered by Anonymous

3

NOMINAL ACCOUNT.....

Answered by jeehelper

4

Nominal accounts are usually maintained in Single Entry System . In Single Entry System, all the transactions are just recorded one time unlike ' double entry system '. It is also known as ' Single Entry Bookkeeping ' . It is not a scientific method of recording transactions . Profit can not be determined using this system.

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