question archive Which of the following is NOT the correct about double-entry system of accounting? Select one: O A
Which of the following is NOT the correct about double-entry system of accounting? Select one: O A
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Which of the following is NOT the correct about double-entry system of accounting? Select one: O A. Every journal entry must have at least one debit and one credit. O B. Each transaction that takes place has two aspects ie. one in which the company receives something and the other where it gives away something. O C. It is a system under which both aspects of a transaction (receiving and giving) are recorded in the books of account. O D. In double-entry system, a company keeps for two separate books, one for legal cases and one for internal purposes.
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(D) is not the correct about double entry system of accounting
D in double-entry system, a company keep one single book for both legal cases and internal purposes.
