Question

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

Answer 1

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.