Write three weaknesses of Single Entry System of book-keeping.

1.	Write three weaknesses of Single Entry System of book-keeping.
Answer» 1. It has no certain rules and principles. Rules may vary in different institutions as per their requirements. 2. Exact financial position cannot be known through this system. 3. No trial balance can be made for examining the mathematical accuracy in this system.

Answer»

1. It has no certain rules and principles. Rules may vary in different institutions as per their requirements.

2. Exact financial position cannot be known through this system.

3. No trial balance can be made for examining the mathematical accuracy in this system.

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