Question

why nominal account is not maintain in single entry system ?​

Answer 1

Explanation:

Single entry system is incomplete system because it does not record the two aspects or accounts of all the financial transactions of the business. It does not maintain any record of the transactions relating to the nominal account and real account except cash account.

Answer 2

Explanation:

Checking of the arithmetical accuracy is not possible due to non-preparation of a trial balance. ... Ascertainment of the actual profit of a concern is not possible, as nominal accounts are kept under single entry system. In the absence of nominal accounts, Trading and Profit & Loss account cannot be prepared.