Asked by maria alvarado on May 11, 2024

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​Is the most basic form of bookkeeping and is similar to a checkbook register

A) ​advantage of double-entry system over the single-entry system
B) ​characteristic of the single-entry system

Bookkeeping

The recording of financial transactions, and is part of the process of accounting in business, which involves maintaining accurate and systematic records of a company's financial transactions.

Checkbook Register

A document, often accompanying a checkbook, that allows individuals to track their deposits, withdrawals, and current balance for their bank account.

Single-entry System

A basic accounting method where entries are recorded only once, either as an expense or income, making it less intricate but less accurate than the double-entry system.

  • Comprehend the benefits of using a double-entry bookkeeping system as opposed to a single-entry system.
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TS
Tee-tee SmithMay 14, 2024
Final Answer :
B
Explanation :
The description matches the single-entry system, which is simpler and akin to maintaining a checkbook register, not an advantage of the double-entry system.