Question on: JAMB Accounting - 2019

The difference between double entry and single entry is

double entry is based on the dual concept while single entry is not based on dual concept

double entry is an account while single entry is not an account

double entry keeps personal account while single does not

double entry is useful for business enterprise while single entry is not

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Correct Option: A

Recording method: Single-entry bookkeeping gives a one-sided picture of transactions recorded in the cash register. In double entry, changes due to one transaction are reflected in at least two accounts.

Error detection: In double entry, debits and credits must always be the same.

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