The difference between double entry and single entry is

The difference between double entry and single entry is

  • A.
    double entry is based on the dual concept while single entry is not based on dual concept
  • B.
    double entry is an account while single entry is not an account
  • C.
    double entry keeps personal account while single does not
  • D.
    double entry is useful for business enterprise while single entry is not
Correct Answer: Option A
Explanation

Double entry is based on dual concept, i.e two-fold aspect of transaction whereby single entry ignored the principle of double entry.

You May Also Like