Keeping records under single entry system has the advantage of?

A. Quality in terms of records
B. Simplicity in terms of operation
C. Accuracy in terms of operation
D. Completeness in terms of records

Correct Answer:

Option B – Simplicity in terms of operation

Explanation

Advantages Of Single Entry System: Single entry system does not need any special accounting knowledge and personnel to record financial transactions of the business. It can be maintained easily by the business owner. So, this system of book-keeping is simple to maintain and easy to practice.