Q.State the accounts generally maintained by a small sized sole trader when double entry accounting system is not followed.

Under the single entry / incomplete records system a small sole trader keeps mainly a Cash Book and the personal accounts of debtors and creditors, ignoring most real and nominal accounts.

In the Accounts from Incomplete Records topic of the TN HSC Commerce syllabus, a small-sized sole trader often finds the full double entry system too costly and time-consuming, so only partial records are maintained. The accounts generally kept are:

1. Cash account / Cash Book — to record cash and bank receipts and payments (the trader must know his cash position).
2. Personal accounts of debtors and creditors — to keep track of amounts receivable from customers and payable to suppliers. …