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Question
State True or False.
Under Single Entry System it is not possible to prepare Trial Balance.
Options
True
False
MCQ
True or False
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Solution
True
Explanation:As incomplete records are maintained under this system, it is not possible to prepare a Trial Balance. Only transactions related to cash and personal accounts are recorded under single-entry system, while transactions related to real and nominal accounts are ignored. Hence, it is difficult to prepare a Trial Balance.
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