Question

Q8 which basis of accounting is
best for business entities and
why? give 3 reasons in support of
your answer​

Answer 1

Answer:

Double entry Book keeping

Reasons:

1. Shows true picture of the entity
2. Both personal and inmersonal ac is recorded
3. Assures arithmetical accuracy of books
4. prevent and minimizes error and even detected early
5. Comparison with past performance of entity is possible
6. Errors cna be checked and rectified easily.

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