Major advantages of the single entry system, accounting, Basic Statistics

What are the major advantages of the Single Entry System?

Ans. A Single Entry system is considered to be the most simplest method to record the financial transaction, only cash book is required no subsidiary books like purchase credit, Sales Credit, Bills Receivable, Bills Payable Book are required so this system proves to be cheaper than Book Entry System.

In order to do the book keeping under the single entry system, no special knowledge is required, only basic knowledge of the accounting is enough so no special technical executives are required to deploy for the accounting purpose. It saves the manpower and its cost for an organziaiton.
Posted Date: 3/26/2012 1:04:02 PM | Location : United States







Related Discussions:- Major advantages of the single entry system, accounting, Assignment Help, Ask Question on Major advantages of the single entry system, accounting, Get Answer, Expert's Help, Major advantages of the single entry system, accounting Discussions

Write discussion on Major advantages of the single entry system, accounting
Your posts are moderated
Related Questions
1. Unrestricted cash contributions received during the year, $300,000. 2. Restricted cash contributions were received during the year for the following: Education

In 2009, the average number of runs scored in the National League was approximately 4.5 per team. Therefore, a team has done an adequate job with its offense if it scores at least


Bonds payable The face worth of bonds issued and honorary. In the case of zero-coupon bonds, however, and the only and the accreted value of the tie is reported as bonds owed on t

the monthly income( in tk''s)persons workingin afarmis as flows ,14870,14930,15020,14460,14750,14920,15720,15160,14680,14890 find average monthly income?

Ten students are given coaching for environmental statistics. The score obtained in tests 1 and 5 are given below: Sl No of student 1 2 3 4 5 6 7 8 9 10 Marks in 1st test 50 52 53

A cognitive psychologists knows that concrete words, which easily evoke images (.e.g. "sunset", "truck") are easier to remember than abstract words, but she would like to know if t

state the condition followed by dimple truss.

Question: Sharp Discounts Wholesale Club has two service desks with one server at each desk.  There is one desk at each entrance of the store.  Customers arrive at each

How many free premium channels should research director recommend