Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 33 - No. 20)
Which of the following is a key advantage of using separate journals for sales returns and sales?
It minimizes the size of the general ledger.
It speeds up the process of financial statement preparation.
It reduces the number of errors.
It provides detailed information about sales and returns.
Explanation
Separate journals enable business owners to easily track, and analyze revenue & returns.
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