Summarize the Advantages and Disadvantages of an Alphabetic Filing System

question 72

Essay

Summarize the advantages and disadvantages of an alphabetic filing system.

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Definitions:

Normal Balances

The side (debit or credit) of an account that is increased, reflecting the account's natural balance.

Normal Debit Balance

In accounting, refers to the side of an account that is typically increased with a debit entry, such as assets, expenses, and losses.

Revenues

The total amount of money received by a company from its business activities, before any deductions are made.

Stockholders' Equity

The leftover value in a company's assets after all obligations are removed.