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Explain double entry system of accounting

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Reference no: EM133091792

Questions -

Q1. Explain double entry system of accounting.

Q2. Explain singly entry system of accounting.

Q3. What is the major record in a single entry system?

Q4. What is the single entry formula in computing net income for a proprietorship or partnership?

Q5. What is the single entry formula in computing net income for a corporation?

Reference no: EM133091792

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