Maharashtra State BoardHSC Commerce 12th Board Exam
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Select the Most Appropriate Answer the Alternatives Given Below and Rewrite the Sentence - Book Keeping and Accountancy

MCQ

Select the most appropriate answer the alternatives given below and rewrite the Sentence.
Under Single entry System only _______________.

Options

  • Personal accounts and cash A/c are opened

  • Real accounts are opened

  •  Nominal accounts are opened

  • Real and nominal accounts are opened

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Solution

Under Single entry System only personal accounts and cash A/c are opened.

Explanation: Real and nominal accounts are not maintained under single-entry system. Only personal and cash accounts and the cash and credit transactions (related to personal accounts) are recorded under this system.

Concept: Meaning of Single Entry
  Is there an error in this question or solution?
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