​Identify Whether the Following Description Is an Advantage of the Double-Entry

question 23

Multiple Choice

​Identify whether the following description is an advantage of the double-entry bookkeeping system over the single-entry system.Note: Answers may be used more than once.
-​Inclusion of assets and liabilities in bookkeeping accounts

• A)​advantage of double-entry system over the single-entry system
• B)​characteristic of the single-entry system

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Definitions:

Change in Net Working Capital

The difference between the current assets and current liabilities from one period to the next, reflecting changes in liquidity and operational efficiency.

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), representing the average tax burden.

Capital Gains

The profit earned from the sale of assets like stocks, bonds, or real estate, which exceeds the purchase price.

Non-Eligible Dividends

Dividends paid from earnings that are not eligible for the enhanced dividend credit in certain jurisdictions, typically leading to higher tax rates for the recipient than eligible dividends.