Double-entry accounting is used by private-sector firms, but cannnot be used by public-sector organizations.

Name: Double-entry accounting is used by private-sector firms, but cannnot be used by public-sector organizations.
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Question

Quizplus · Accepted Answer

This statement is false. Double-entry accounting can be used by both private-sector firms and public-sector organizations. It is a widely accepted accounting method that ensures accuracy and accountability in financial transactions.

Double-Entry Accounting Is Used by Private-Sector Firms, but Cannnot Be