Which of the following is a criticism of the double-entry financial accounting system?
A) Its general inability to take social and environmental consequences of a reporting entity's existence into account
B) Its use of a system of debts and credits to account for increases and decreases, instead of positive and negative numbers
C) Its initial development in a generally unregulated environment has resulted in a lack of uniformity and comparability
D) All of the given options are correct

Question

Quizplus · Accepted Answer

The double-entry financial accounting system has been criticized for its general inability to take social and environmental consequences of a reporting entity's existence into account, its use of a system of debts and credits to account for increases and decreases, instead of positive and negative numbers, and its initial development in a generally unregulated environment has resulted in a lack of uniformity and comparability.

Which of the Following Is a Criticism of the Double-Entry