The simplest form of single entry procedure consists of keeping a
Options
A) day book or general journal
B) cash book and ledger accounts showing debtors and creditors balances >>>>>>
C) cash journal, sales journal and purchases journal
D) day book in which transactions are described in chronological order
The correct answer is B.
N.B
A single-entry bookkeeping system or single-entry accounting system is a method of bookkeeping relying on a one sided accounting entry to maintain financial information. The simplest form of single entry procedure consists of keeping a cash book and ledger accounts showing debtors and creditors balances.
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