Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 23 - No. 27)
Why is it advantageous to group similar transactions into different books of prime entry?
It simplifies the posting of debits and credits to ledger accounts.
It makes it easier to identify individual transactions.
It can reduce the amount of work.
It slows down the accounting process.
Explanation
Grouping transactions by type simplifies bookkeeping, allows for the summarization of data and often allows for easier control and reconciliation.
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