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.
-The total accounts owed by the practice to suppliers and other service providers for regular business operating expenses
A)charges
B)payments
C)accounts payable
D)adjustments

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.
-​The total accounts owed by the practice to suppliers and other service providers for regular business operating expenses
A)​charges
B)​payments
C)​accounts payable
D)​adjustments

Quizplus · Accepted Answer

Accounts payable refers to the total accounts owed by the practice to suppliers and other service providers for regular business operating expenses, which is more accurately tracked in a double-entry bookkeeping system.

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

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