what are the objectives of self balancing system
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Advantages:
● Speedy detection of errors is possible.
● Balancing is done quickly and thus saves time, labour and money.
● The system helps reducing fraud.
● Final Accounts can be prepared easily and quickly.
● It acts as an effective internal check.
● It is very useful when there is a large number of debtors and creditors.
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Answer:
The objectives of self balancing system are:
(i)Speedy detection of errors is possible.
(ii)Balancing is done quickly and thus saves time, labour and money.
(iii)The system helps reducing fraud.
(iv)Final Accounts can be prepared easily and quickly.
(v)It acts as an effective internal check.
(vi)It is very useful when there is a large number of debtors and creditors.
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