Difference between single and double entry?

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Difference between single and double entry?..

Answer / b.narasimha rao

SYSTEM OF RECORDING BOTH ASPECT OF TRANSACTION IN ACCOUTING
BOOKS IS CALLED BOUBLE ENTRY
ONLY ONE ASPECT RECORDING OF TRANSACTION IN ACCOUNTNG BOOKS
IT IS UNCOMPLETED ENTRY

Is This Answer Correct ?

23 Yes

12 No

Difference between single and double entry?..

Answer / koteswara rao

Single Entry means is any accounting transaction book only with single Enty,
Ex: Cash / Bank A/C Dr xxxx
To Expenditure A/C xxxx

Double Entry Means Any Type of expenditure first create outstanding with proof of a document, then after payment made.
Ex: Expenditure A/C Dr xxxx
To Person / Company A/c xxxx

Person / Company A/C Dr xxxx
To Cash / Bank xxxx

Is This Answer Correct ?

7 Yes

1 No

Difference between single and double entry?..

Answer / faysalsam

Double entry means that first you book Receivable or Payable
against Sale or Purchase then post Received and Payment.
for e.g
A/c Receivable DR
Sales CR

then
Bank/Cash DR
A/C Receivable CR

In Single Entry directly post Expense or Income with
Receivable and Payable

Expense DR
Cash CR

Cash DR
Rent Income CR

Is This Answer Correct ?

8 Yes

2 No

Difference between single and double entry?..

Answer / nareshchowdary

once upon time used single entry systems. Now a days using
double accountnig system.
single entry means only cash iteams.
Ex:-Purchase A/c DR
To Cash
Double entry means Both Cash & Credit.
Ex:-Purchase A/c DR
To xxx
(Being Credit base)

Is This Answer Correct ?

15 Yes

19 No

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