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.
-As information is entered in the system,the accounting records are automatically updated;therefore,account balances of patient or vendor accounts remain 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.
-​As information is entered in the system,the accounting records are automatically updated;therefore,account balances of patient or vendor accounts remain up to date
A)​advantage
B)disadvantage

Quizplus · Accepted Answer

The double-entry bookkeeping system ensures that for every entry made, a corresponding entry is made to another account, which helps in keeping the accounting records automatically updated. This feature is an advantage as it maintains up-to-date account balances for patients or vendors, enhancing accuracy and reliability in financial reporting.

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

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