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.
-Reduces staff time in preparing accounts and audit expenses because records are neat,accurate,and up-to-date
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.
-​Reduces staff time in preparing accounts and audit expenses because records are neat,accurate,and up-to-date
A)​advantage
B)disadvantage

Quizplus · Accepted Answer

Double-entry bookkeeping typically results in more accurate and up-to-date records, which can streamline the preparation of accounts and potentially reduce audit expenses. This system ensures every transaction is entered twice, which helps in maintaining balanced books and reduces errors.

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

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