Asked by
Jacqueline Winston
on Nov 09, 2024
Verified
Using a single-entry accounting system will allow a small business owner to produce an income statement and a balance sheet.
Single-entry Accounting
A simplified accounting method where transactions are recorded with a single entry, typically used by small businesses for tracking income and expenses.
- Understand the principles of accounting systems and their importance in business management.
Verified Answer
LD
Learning Objectives
- Understand the principles of accounting systems and their importance in business management.
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