Major advantages of the single entry system, accounting, Basic Statistics

Assignment Help:
What are the major advantages of the Single Entry System?

Ans. A Single Entry system is considered to be the most simplest method to record the financial transaction, only cash book is required no subsidiary books like purchase credit, Sales Credit, Bills Receivable, Bills Payable Book are required so this system proves to be cheaper than Book Entry System.

In order to do the book keeping under the single entry system, no special knowledge is required, only basic knowledge of the accounting is enough so no special technical executives are required to deploy for the accounting purpose. It saves the manpower and its cost for an organziaiton.

Related Discussions:- Major advantages of the single entry system, accounting

Confidence interval, 1. Provide an overview of the scenario and the variabl...

1. Provide an overview of the scenario and the variable involved. Include an explanation of why and how constructing the confidence interval adds value. I.e., why might this inform

Profit margin (return on sales), Hugh Snore Bedding, Inc. has assets of $40...

Hugh Snore Bedding, Inc. has assets of $400,000 and turns over its assets 1.5 times per year. Return on assets is 12%. What is its profit margin (return on sales)?

Newton''s second law, i need to know newton''s second law. my science book ...

i need to know newton''s second law. my science book is glencoe mcgraw 6th grade.

Frequency distribution, hey goo day, i wanna know the definition of frequen...

hey goo day, i wanna know the definition of frequency distribution and how to conduct it like in examples?

Correlation and regression problems, CORRELATION & REGRESSION: 1)  What...

CORRELATION & REGRESSION: 1)  What do you mean by the term correlation? 2)  Point out the differences between coefficient of correlation and regression. 3)  If the correl

Histogram, difference between histogram and historigram

difference between histogram and historigram

Adaptive sampling design, Adaptive sampling design   The sampling de...

Adaptive sampling design   The sampling design in which the method for selecting  the sampling Units on which to make observations might rely on the observed values of the v

Cost accounting, what are the objective and importance of cost accounting a...

what are the objective and importance of cost accounting and managerial decision making.

Kolmogorov test, how can i get a free software to run a kolmogorov test?

how can i get a free software to run a kolmogorov test?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd