Asked by Jocelyn Camack on Jun 21, 2024
Verified
Information may be accessed almost instantly and made available to different users in different locations at the same time
A) advantage
B) disadvantage
Instant Access
The ability to obtain information or data immediately, without any delay.
Double-Entry Bookkeeping System
A bookkeeping method in which every transaction is entered twice, to two separate accounts, with one being a debit and the other a credit, to maintain the balance of the accounting equation.
Single-Entry System
A simple accounting system where each transaction is recorded with a single entry, typically used by small businesses or for personal finances.
- Establish the key factors and advantages offered by the double-entry bookkeeping framework.
Verified Answer
Learning Objectives
- Establish the key factors and advantages offered by the double-entry bookkeeping framework.
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