The 2016 Color of the Year is â CLARET! How does Claret fit in the Fiesta family of colors? Quite nicely, we must say. Check out the entire spectrum here: Ivory, Slate, Sage, Claret, Scarlet, Poppy, Tangerine, Sunflower, Lemongrass, Shamrock, Turquoise, Lapis, Cobalt, Paprika, and White. Claret is a high-fashion color that fills a void in the Fiesta spectrum.
The fundamental concept underlying present-day bookkeeping and accounting. Double entry accounting is based on the fact that every financial transaction has equal and opposite effects in at least two different accounts.
Single entry system is an incomplete system of recording financial transactions. Double entry system is a complete system of recording and reporting financial transactions. Accounting records which are not maintained according to double entry principles is known as Single Entry System. In other words any system of book keeping which is not a complete double system of book keeping.