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Write the Word / Term / Phrase Which Can Substitute the Following Statement. - Book Keeping and Accountancy

One Word Answer

Write the word / term / phrase which can substitute the following Statement.
A system of accounting which is not scientific.

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Solution

Single entry system
Explanation: Single-entry system is an incomplete and unscientific system of accounting. Only personal and cash accounts are maintained under it. This system is mostly suitable for small-scale businesses with limited number of transactions. Moreover, there are no set rules prescribed for recording transactions under this system.

Concept: Meaning of Single Entry
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