​Better use is made of resources and time;cash flow should improve through better debt collection and inventory control

A) ​advantage
B) disadvantage

Double-Entry Bookkeeping System

An accounting system where every entry to an account requires a corresponding and opposite entry to a different account, ensuring the accounting equation remains balanced.

Single-Entry System

An accounting method where each financial transaction is recorded only once, either as an expense or income, making it simpler but less comprehensive than double-entry systems.

Cash Flow

The total amount of money being transferred into and out of a business, affecting its liquidity, solvency, and overall financial health.