Multiple choice

Which of the following is the main advantage of bookkeeping?

  1. Ascertainment of financial position

  2. Control over assets

  3. Arithmetical accuracy of the account

  4. Issue of Shares

  5. Control over borrowings
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A Correct answer
Explanation

The objective of bookkeeping is the ascertainment of financial position. The users of accounting information work on decisions on the basis of financial stability.

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