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The double Entry System of Book-keeping is a scientific method of books of accounts.

Monjur Alahi

State True or False with reason:

The double Entry System of Book-keeping is a scientific method of books of accounts.


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Salim Ahmed Kawsar

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This statement is True.

In the double-entry system of book-keeping, there are two-fold effects. Both the effects are recorded simultaneously with an equal amount. This system also follows principles and rules of debit and credit. Due to this, there are very fewer chances of mistakes. So double entry system of Book-Keeping is a scientific method of the book of accounts.

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i. Every Journal Entry requires ________ ii. _______ discount is always recorded in the books of accounts.

i. Narration ii. Cash iii. Voucher iv. Three v. Crossed.

2 Answers 1 views
State the accounts which are not considered while preparing the Trial Balance by Balance Method Accounts which do not show any balance are not conside

Correct Answer - Balance Method.

2 Answers 1 views
The age of most ancient geological formations is estimated by a)`C-14` dating method b)`K-Ag` method c)`U-Pb` method d)`Ra-Rn` method

Correct Answer - D The age of most ancient geological objects is determined by uranium lead method. This methos is based on the radoactive porperties of uranium. In theis methos,we assume...

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i. Principal Book of accounts. ii. Transferring a journal entry to the appropriate accounts in the Ledger.

i. Ledger ii. Posting iii. Ledger folio iv. Balancing v. Debtor vi. Bank overdraft vii. Loss by fire viii. Net Trial Balance

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i. Additional cash introduced in business is recorded in _______  (a) Purchase Book  (b) Cash Book  (c) Journal Proper  (d) Returns Inwards Book

i. (b) Cash Book ii. (d) Journal Proper iii. (c) receipts iv. (a) drawer v. (c) Fixed

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Which type of accounts are normally not kept under the Single Entry System?

Under a single entry system, records of impersonal accounts i.e. real accounts and nominal accounts are not maintained.

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Which types of accounts are maintained under the Single Entry System?

Under a single entry system, all personal accounts and cash accounts are maintained.

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Only Cash and Personal accounts are maintained under the Single Entry System.

This statement is True. The single Entry System is an ancient and unscientific method of recording business transactions. This system maintains minimum accounts so it is easy for traders to write...

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The work of accounting depends upon ____________ (a) book-keeping (b) cash book (c) subsidiary books (d) ledger

Correct option is (a) book-keeping

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(i) A book of accounts in which all ledger accounts are maintained.

(i) Ledger (ii) Nominal Accounts (iii) Purchases Account (iv) Trial Balance

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