1.

List out the advantages and limitations of manual accounting. 

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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