Identify whether the following description is an advantage of the double-entry bookkeeping system over the single-entry system.Note: Answers may be used more than once.
-Fast and accurate generation of accounting documents such as invoices,credit notes,statements of accounts,purchase orders,and even payroll documents can all be done automatically
A)advantage
B)disadvantage

Question

​Identify whether the following description is an advantage of the double-entry bookkeeping system over the single-entry system.Note: Answers may be used more than once.
-Fast and accurate generation of accounting documents such as invoices,credit notes,statements of accounts,purchase orders,and even payroll documents can all be done automatically
A)​advantage
B)disadvantage

Quizplus · Accepted Answer

The double-entry bookkeeping system allows for more comprehensive and detailed recording of transactions, which can facilitate the fast and accurate generation of various accounting documents. This is because each transaction affects at least two accounts, providing a more complete view of the financial situation, which can be leveraged by automated systems to generate documents efficiently.

​Identify Whether the Following Description Is an Advantage of the Double-Entry

Identify Whether the Following Description Is an Advantage of the Double-Entry