New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which of the following is NOT true about the single

    entry system?
    A Personal, real and nominal accounts are prepared under this system. Correct Answer Incorrect Answer
    B Trading and Profit & Loss A/C cannot be prepared under this system. Correct Answer Incorrect Answer
    C Books maintained under this system are not accepted as evidence in the court of law. Correct Answer Incorrect Answer
    D As compared to the double entry system. this system is arithmetically less accurate. Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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