why the company follow single entry system then double entry system
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9
Explanation:
Recording method: Single-entry bookkeeping gives a one-sided picture of transactions recorded in the cash register. ... Company size: The single-entry system is only appropriate for small enterprises, whereas the double-entry system can be used by all sizes of businesses, including large ones.
Answered by
11
Explanation:
The double-entry system is preferred by investors, banks and buyers because it gives them a more complete financial picture of an organization. ... Preparation of financial statements: The information recorded in a single-entry system isn't adequate for financial reporting or preparing profit and loss statements.
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