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Question
Select the most appropriate answer the alternatives given below and rewrite the Sentence.
Under Single entry System only _______________.
Options
Personal accounts and cash A/c are opened
Real accounts are opened
Nominal accounts are opened
Real and nominal accounts are opened
Solution
Under Single entry System only personal accounts and cash A/c are opened.
Explanation: Real and nominal accounts are not maintained under single-entry system. Only personal and cash accounts and the cash and credit transactions (related to personal accounts) are recorded under this system.
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