Question

What type of accounts are normally not kept under Single Entry System? (Answer in one sentence)

Answer 1

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Personal and Real Account are normally not kept under Single Entry System.

Answer 2

• Real and nominal accounts are normally not kept under a single entry system.

• It is an incomplete system because only private and cash accounts are recorded under a single entry system.

• A single entry system can not show the actual economic status of the business.

• A single entry system rejects the debit and credit of transactions