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List out the advantages and limitations of manual accounting. |
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Answer» Advantages of manual accounting are: 1. Comparatively cheap workforce and resources. 2. Reliability. 3. Independence from machines. 4. Skilled workers availability. Limitations of manual accounting are: 1. Reduced speed. 2. Increased effort of accountants. 3. Duplication of work and less integrity. 4. Relatively slower internal control reporting, routine work, and some others. |
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