The main features of the single system are that?

Accounts - Principles of Accounts JAMB 1999

The main features of the single system are that?

  • books of accounts are not maintained and business relies only on bank statement
  • the journal records are absent and only the main ledger is kept 7
  • there are incomplete classifications and recording procedures checkmark
  • only credit sales transactions and credit purchase are recorded

The correct answer is: C

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