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Incomplete Records

  • P. Stevens
Chapter
Part of the Macmillan Work Out Series book series (MCWO)

Abstract

We have, in previous chapters, looked at the double-entry system of book-keeping. The advantages of the system can be summarised as follows:
  1. (i)

    There is a complete record of every transaction.

     
  2. (ii)

    There is an arithmetical check on the accuracy of the figures.

     
  3. (iii)

    Greater control can be exercised over the accounting records.

     
  4. (iv)

    Certain subsidiary functions in larger businesses can be delegated to junior staff.

     
  5. (v)

    Greater reliability can be placed on the accounts produced from those records.

     

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Copyright information

© P. Stevens 1987

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  • P. Stevens

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