Advertisements
Advertisements
Question
State True or False.
Double Entry System is scientific method of maintaining books of accounts.
Options
True
False
MCQ
True or False
Advertisements
Solution
True
Explanation: Double-entry system is a scientific system because the entries are recorded taking into account the dual aspect, i.e. the debit and credit aspects of each transaction. Also, under this system, transactions related to all the accounts (i.e. real, nominal and personal) are recorded. Hence, the accounts maintained under this system are complete and reliable.
shaalaa.com
Is there an error in this question or solution?
