Which of the following accounting systems is based on the principle that assets equal liabilities plus owner's equity.This system requires time and skill and provides a comprehensive financial picture with built-in accuracy controls?

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The accounting system based on the principle that assets equal liabilities plus owner's equity is the double entry system. This system provides a comprehensive financial picture with built-in accuracy controls, but it requires time and skill to use effectively. Single entry, pegboard, and computerized accounting systems may not provide the same level of accuracy controls or comprehensive financial picture.

Which of the Following Accounting Systems Is Based on the Principle