Maharashtra State BoardHSC Commerce 11th
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State True or False with reasons:Preparation of Trial Balance is not possible under Single Entry System - Book Keeping and Accountancy

MCQ
True or False

State True or False with reasons:
Preparation of Trial Balance is not possible under Single Entry System

Options

  • True

  • False

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Solution

This statement is True.
In the Trial Balance we require a ledger balance of every account from business transactions which is not possible in the Single Entry System. Therefore, the preparation of Trial Balance is not possible under a single Entry system.
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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 10 Single Entry System
Exercise Q.4 | Q 2 | Page 356
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