what is double counting and also explain the precautions of value added method?
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The name says it all. Double counting is a more common term in accounting. This is bound to happen when you calculate one value more than once. This could be due to a mathematical error or it could be a fraud (businesses) as well.
For example: While finding the sum of say 10 values. You count one of the values twice as you thought you might have missed it.
I have no knowledge about the value added method so please excuse me.
For example: While finding the sum of say 10 values. You count one of the values twice as you thought you might have missed it.
I have no knowledge about the value added method so please excuse me.
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