1. Single-entry System
Meaning of Single-entry System:
Single-entry system of book-keeping refers to any system of book-keeping which is not a complete double-entry system. That is., it is a system of book-keeping under which a complete record (i.e., a record of both the aspects) of each and every transaction is not kept. Under this system, for some transactions, both the aspects are recorded, for a few transactions, none of the aspects is recorded, and for most of the transactions, only one aspect is recorded. As only one aspect is recorded for most of the transactions, this system is called Single-entry System.
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