Difference between donkey entry and single entry system

\t\t\tMeaningThe system of accounting in which only one sided entry is required to record financial transactions is Single Entry System.The accounting system, in which every transaction affects two accounts simultaneously is known as the Double Entry System.NatureSimpleComplexType of recordingIncompleteCompleteErrorsHard to identifyEasy to locateLedgerPersonal and Cash AccountPersonal, Real and Nominal AccountPreferable forSmall EnterprisesBig EnterprisesPreparation of Financial StatementDifficultEasySuitable for tax purposesNoYesFinancial positionCannot be ascertained easily.Can be ascertained easily.\t

1.	Difference between donkey entry and single entry system
Answer»		BASIS FOR COMPARISON	SINGLE ENTRY SYSTEM	DOUBLE ENTRY SYSTEM

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