ENTRY SYSTEM
This query is : Resolved
pvsrikanth
(Querist)
09 July 2011
DEAR SIR,
WHAT IS THE MAJOR DEFFERENCE BETWEEN DOUBLE ENTRY SYSTEM AND SINGLE ENTRY SYSTEM
WHAT IS THE MAJOR DEFFERENCE BETWEEN DOUBLE ENTRY SYSTEM AND SINGLE ENTRY SYSTEM
Kumar Babu.G
(Expert)
09 July 2011
Double Entry means for every transaction there will be a debit and a corressponding credit.Single entry is opposite to that.
CMA Ramesh Krishnan
(Expert)
17 July 2011
Double entry system will be preferred always. In single entry system we cannot prepare correct profit&loss a/c and Balance sheet.
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