Book-Keeping and Accountancy · Class 11 Commerce
Ch 10Single Entry System — Class 11 Book-Keeping and Accountancy, concept-first.
Most genuinely small trading concerns — a shopkeeper running one outlet, a small family partnership, a village trader dealing in grain or cloth — do not keep a complete set of books on the strict debit-credit rule that Double Entry Book-Keeping demands for every single account.
Key concepts
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Single Entry System
The Single Entry System (more accurately, Accounts from Incomplete Records) is an informal, unscientific way small traders and partnerships keep their books — typically only personal accounts (debtors, creditors) and a c…
Most relevant Q&A
- Explain the meaning of the Single Entry System of Accounting. State any four of its features.Free
- State any four limitations of the Single Entry System of Accounting.Free
- Under the Single Entry System, which of the following CANNOT be prepared directly from the trader's own books? (a) Cash Book (b) Trial Balan…Preview
- Why is the profit ascertained under the Single Entry System considered only an estimate, and not a scientifically computed figure?Preview
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning and Features of the Single Entry System
Most genuinely small trading concerns — a shopkeeper running one outlet, a small family partnership, a village trader dealing in grain or cloth — do not keep a complete set of books on the strict debi…
Types and Limitations of the Single Entry System
Depending on exactly how much a trader records, the Single Entry System is traditionally described under three broad types — a classification the Balbharati Std XI textbook and MSBSHSE examiners both…
Distinction between Single Entry System and Double Entry System
The MSBSHSE Std XI Book-Keeping and Accountancy syllabus builds the entire earlier part of the course on Double Entry Book-Keeping (Chapter 2 onward), which is exactly why Chapter 10 is framed as a co…
Statement of Affairs (Net Worth) Method — Ascertaining Profit
Since a trader keeping incomplete records has no full ledger, profit for a period cannot be worked out directly through a Trading and Profit and Loss Account the way it would be under Double Entry Boo…
Adjustments in Ascertaining Profit under the Net Worth Method
The basic formula in Section 4 gives only a rough, unadjusted profit figure. In practice, MSBSHSE numericals almost always add further information that has to be worked into the computation before the…
Statement of Affairs and Balance Sheet — Distinction
A Statement of Affairs and a Balance Sheet look alike on the page — both list assets on one side and liabilities (plus capital) on the other — but MSBSHSE examiners frequently test the crucial ways in…
Exercises
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- Q1Explain the meaning of the Single Entry System of Accounting. State any four of its features.Free
- Q2State any four limitations of the Single Entry System of Accounting.Free
- Q3Distinguish between the Single Entry System and the Double Entry System.Free
- Q10Distinguish between a Statement of Affairs and a Balance Sheet.Preview
- Q11Under the Single Entry System, the method that ascertains profit by comparing the trader's capital at the beginning and at the end of the ye…Preview
- Q12Under the Single Entry System, which of the following CANNOT be prepared directly from the trader's own books? (a) Cash Book (b) Trial Balan…Preview
- Q13Why is the profit ascertained under the Single Entry System considered only an estimate, and not a scientifically computed figure?Preview
More questions
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- Q4A trader keeping incomplete records had the following position on 1st April 2024: Cash ₹6,000; Stock ₹22,000; Debtors ₹16,000; Furniture ₹12…Free
- Q5A trader's position was as follows. On 1st April 2024: Cash ₹3,500; Stock ₹13,500; Debtors ₹10,000; Machinery ₹9,000; Creditors ₹8,500. On 3…Free
- Q6From the following particulars of a trader, ascertain the Net Profit for the year ended 31st March 2025. Statement of Affairs as on 1st Apri…Preview
- Q7A trader's Statement of Affairs as on 1st April 2024 showed: Cash ₹4,500; Stock ₹15,000; Debtors ₹12,000; Furniture ₹8,000; Creditors ₹9,000…Preview
- Q8A trader's Statement of Affairs as on 1st April 2024 showed: Cash ₹6,200; Stock ₹21,000; Debtors ₹16,500; Furniture ₹14,000; Creditors ₹15,0…Preview
- Q9A trader's Statement of Affairs as on 1st April 2024 showed: Cash ₹5,500; Stock ₹19,000; Debtors ₹15,000; Furniture ₹10,000; Creditors ₹12,0…Preview