- 1 Marks
FA – May 2012 – L1 – SA – Q2 – Double-Entry Accounting Principles
Identifying the shortcoming of single entry book-keeping.
Question
Which of the following is NOT a shortcoming of single entry book-keeping?
A. A trial balance is not available
B. Profits are overstated
C. There are no subsidiary books
D. There are no control accounts
E. There are no ledger accounts.
Find Related Questions by Tags, levels, etc.
- Tags: Book-keeping, Control Accounts, Trial Balance
- Level: Level 1
- Topic: Double-Entry Accounting Principles
- Series: MAY 2012