Q2641
The single entry system is defective because- I. only one account is maintained II. the trial balance cannot be prepared III. the net profit cannot be accurately calculated IV. the possibility of fraud and misappropriation is great Select the correct answer from the following:
A.
I, III and IV
B.
I and II
C.
II, III and IV
AnswerD.
I only
Answer: Option C
Solution
Answer: Option C
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