what is relationship between double entry system & service sector?

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what is relationship between double entry system & service sector?

double entry system is the system used in accounting bussiness transactions.

2006-10-29 00:12:14 · 2 answers · asked by jyoti 1 in Business & Finance ➔ Other - Business & Finance

2 answers

As u said double entry system is a method of book-keeping. Service sector - telephones, electricity - what ever thing you may avail of a service - the list is quite big - needs to maintain books of accounts (book-keeping).

2006-10-29 00:24:07 · answer #1 · answered by skr 3 · 0⤊ 0⤋

All business accounting systems use the double entry method. This is a built in checks and balances system for accounting

2006-10-29 07:23:42 · answer #2 · answered by waggy_33 6 · 0⤊ 0⤋