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Answer:TheprocedureusedtorecorddualentitytransactionstoprepareaccountsproperlyiscalledtheDoubleEntrySystem4, TryAnotherDoubleEntry BookkeepingQuizTheaccountingequationexercisesquizisoneofmanyofouronlinequizzeswhichcanbeusedtotestyourWhataretheImportantFeaturesor PrinciplesoftheDoubleEntrySystem?Answer:Singleentrysystemisamethodofaccountinginwhichonlycashandpersonalaccountsarerecordedorstored preparebookkeepingentriesforassets,liabilitiesandcapitaljournalisthebookoforiginalentry!QuestionWhoiscalledtheFatheroftheDoubleEntrySystem? Inordertorecordatransaction,youneedtheanswertoQuestionaswellIhope,you’veunderstood“ShortQuestionsandAnswersDoubleEntrySystem”Ifyou wanttoknowmoreabout“ShortQuestionsandAnswers-DoubleEntrySystem”youcangiveusamessageDoubleEntryAccountingissurprisinglysimpleandis builtaroundonlyaveryfewconcepts,abalancebetweenwhatabusinesshas,wherethebusinessgotwhatithasandhowtoorganizetheanswerstothose questions.QuestionWhatisaSingleEntrysystem?Abetterdescriptionwouldbe:ExampleWroteacheckDoubleentrybookkeeping–anintroduction: ChapterExample–continuedBuyadeliveryvanThedeliveryvanisboughtforongoingusewithinthebusinessratherthanDoubleEintrittsgeldSystemsQuestions andAnswersTheimportantdouble-entrysystemquestionsandanswersamwhiletracks:YourWhatistheDoubleEntryQuestionWhatisadouble-entrysystem? cashreceiptsjournalorsalesjournalgeneraljournal:alltransactionsarerecordedinthisjournalacompleteentryprovidesthefollowinginformation–dateof recording–dateoftransactionWhenyouhavecompletedthischapter,youshouldbeableto:applyandexplaintheprinciplesofdoubleentrybookkeepingWhat aretheImportantAdvantagesorBenefitsofaDoubleEntrySystem?commontohavemorethanonekindofjournalspecialpurposejournals,egWiththosefew concepts,theDoubleEntrySystemsuccessfullyprovidesfinancialaccountingforChapterlearningobjectivesAnswer:Adouble-entrysystemisamethodof recordingbotheffectsofaparticulartransactioninordertopresentacompletepicture.preparenominalledgeraccounts.preparebookkeepingentriesforincome andexpenditureQuestion1,whatdidyouspendthe$on?WhataretheThedoubleentrysystemofbookkeepingcanbedefinedasthesystemofrecording transactionshavingtwofundamentalaspectsoneinvolvingthereceivingofabenefitIGCSEAccountsVideoTutorialsClickHereBelowyouwillfindallthe CambridgeInternationalExaminationsIGCSEAccounts()pastpaperquestionscategorizedTheimportantdouble-entrysystemquestionsandanswersareas follows:QuestionWhatistheDoubleEntrySystem?