Asked by Tiffany Henry on May 04, 2024
Verified
Programs come with a computerized ledger system,which is fully integrated,so when a business transaction is entered,it is recorded or linked to a number of accounting records at the same time
A) advantage
B) disadvantage
Double-Entry Bookkeeping System
An accounting method that records each transaction as both a debit and a credit in different accounts, ensuring the accounting equation stays balanced.
Single-Entry System
A rudimentary accounting method where entries are made in a single record, typically focusing only on cash flow and personal accounts.
Computerized Ledger System
A digital system for recording the financial transactions of a business or organization, providing an organized way to store, manage, and report financial data.
- Ascertain the core constituents and upsides of the double-entry bookkeeping scheme.
- Comprehend the role of electronic health records software in financial management.
Verified Answer
Learning Objectives
- Ascertain the core constituents and upsides of the double-entry bookkeeping scheme.
- Comprehend the role of electronic health records software in financial management.
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