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The accounting system in which only one aspect of transaction is recorded is

Accounts - Principles of Accounts
JAMB 2023

The accounting system in which only one aspect of transaction is recorded is

  • A. single entry
  • B. single column cash book
  • C. original entry
  • D. double entry
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Correct Answer: Option A
Explanation

The single entry system in accounting is an accounting approach under which every accounting transaction is recorded with only a single entry in the accounting records, centered on the business enterprise's results, which are shown in the statement of income of the company.


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