​Accurate calculation of profit and loss in complex businesses

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 each entry to an account requires a corresponding and opposite entry to a different account.

Profit and Loss

A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period, typically a fiscal quarter or year.

Complex Businesses

Enterprises that operate in multiple industries or markets, have various products or services, and face multifaceted management challenges.