Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 45 - No. 1)
Which of the following is a characteristic of a good accounting system?
It is only used by large companies.
It provides information that is useful and relevant to decision-making.
It is only concerned with recording cash transactions.
It can only be used by experienced accountants.
Explanation
A good accounting system provides reliable, relevant, and timely information for decision-making.
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