double-entry accounting
- An accounting system that records each business transaction in two ways, as a debit and a credit, employed for handling inventory, loans, assets, and liabilities
- The restaurant uses double-entry accounting to manage its expenses and revenue.
- Double-entry accounting helps businesses keep accurate financial records by balancing debits and credits.
- He found an error in their financial statement due to a discrepancy in the double-entry accounting system.
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