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

question 37

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.
-​Ability to prepare financial statements directly from the accounts

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

---

Definitions:

Holding Cost

The expense associated with storing unsold goods, including warehousing, insurance, and depreciation.

Reorder Point

The inventory level at which a new order should be placed to replenish stock before it depletes to a critical level.

Fixed-Period Model

An inventory control model where orders are placed at fixed intervals, such as weekly or monthly, regardless of inventory level.

Safety Stock

A quantity of stock kept on hand to protect against unexpected increases in demand or delays in supply delivery.