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    Question

    Which of the following statements is correct?

    A Under single entry system, personal and the business transactions are maintained separately in the cash book. Correct Answer Incorrect Answer
    B Under single entry system, usually a cash book and personal accounts are maintained. Correct Answer Incorrect Answer
    C Usually real and nominal accounts are kept in the single entry system. Correct Answer Incorrect Answer
    D Limited companies can also keep books under single entry system. Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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