The Incomplete Method of Accounting System. - Book Keeping and Accountancy

The incomplete method of accounting system.

Solution

Single Entry System

Explanation:

Single entry system of accounting is a system where some transactions are recorded partially and certain transactions are not recorded at all. This is a system of book keeping in which records of only cash and personal accounts are maintained while transactions related to real and nominal accounts are ignored. Thus, this method is known as incomplete method of recording transactions.

Concept: Meaning and Definitions of Partnership and Partnership Deed

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2009-2010 (March)

Q 1.B.1 Q 1.A.5 Q 1.B.2

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