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The difference between double entry and single entry is

Accounts - Principles of Accounts
JAMB 2019

The difference between double entry and single entry is

  • A. double entry is based on the dual concept while single entry is not based on dual concept
  • B. double entry is an account while single entry is not an account
  • C. double entry keeps personal account while single does not
  • D. double entry is useful for business enterprise while single entry is not
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Correct Answer: Option A
Explanation

Double entry is based on dual concept, i.e two-fold aspect of transaction whereby single entry ignored the principle of double entry.

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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Your School's Whatsapp Group - Join Us now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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