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JAMB Principles of Accounts 2002 Question 44

Question 44

Incomplete Records

Keeping records under the single entry system has the advantage of

  1. A.quality in terms of records
  2. B.completeness in terms of records
  3. C.accuracy in terms of operation
  4. D.simplicity in terms of operation.
Show the answer and explanation

Answer: D (simplicity in terms of operation.)

Explanation

Single entry is simple and cheap to keep, though it is incomplete and less accurate.