Asked by Dominique Dickenson on Jun 04, 2024
Verified
Detection of errors and fraud are more visible
A) advantage of double-entry system over the single-entry system
B) characteristic of the single-entry system
Double-entry Bookkeeping
An accounting method where every entry to an account requires a corresponding and opposite entry to a different account.
Detection of Errors
The process of identifying and correcting mistakes in data, calculations, or processes to ensure accuracy and reliability.
Fraud Visibility
The measure of how easily fraudulent activities or anomalies can be detected within a system or process.
- Gain insight into the superiority of the double-entry bookkeeping system compared to the single-entry system.
Verified Answer
Learning Objectives
- Gain insight into the superiority of the double-entry bookkeeping system compared to the single-entry system.
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