Economics · Principles of Accounting

Financial accounting and cost accounting are both fundamentally based on which system?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Single entry system
2Double entry system✓
3Indian entry system
4None of these

Correct answer

Double entry system

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Financial accounting and cost accounting are both fundamentally based on which system?

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Financial accounting and cost accounting are both fundamentally based on which system?

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