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.
-Undetected errors can occur and might be discovered only through bank statement reconciliation
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.
-​Undetected errors can occur and might be discovered only through bank statement reconciliation
A)​advantage of double-entry system over the single-entry system
B)​characteristic of the single-entry system

Quizplus · Accepted Answer

This description is a characteristic of the single-entry system, where undetected errors are more common due to the lack of a second record for each transaction that could help in identifying discrepancies.

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

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