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.
-Accurate calculation of profit and loss in complex businesses
A)advantage of double-entry system over the single-entry system
B)characteristic of the single-entry system

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.
-​Accurate calculation of profit and loss in complex businesses
A)​advantage of double-entry system over the single-entry system
B)​characteristic of the single-entry system

Quizplus · Accepted Answer

The double-entry bookkeeping system allows for more accurate and detailed tracking of transactions, making it easier to calculate profit and loss accurately, especially in complex businesses. This is a key advantage over the single-entry system, which is simpler and might not capture all the necessary details for complex calculations.

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

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