FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Which option is better for small business owners, computerized or manual accounting system? Why? Support your answer with proper citations.

Expert Solution
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Small business owners and Manual accounting system

Small business owners

A small business owners is/are an individual or group of individuals working with a small setup and usually does all the work by himself. In this business setup, they usually operates with limited capital and undertake all the risks by themselves.

 

Manual Accounting system

Manual accounting system usually uses physical books such as journals, ledgers and Payroll, where transactions are recorded into various books by hand(manually). 

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