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Unformatted text preview: bookkeeping system and establishing controls to make sure the system works well and analyzing and veriFying the recorded inForma±on. Accountants give the orders and the bookkeepers Follow them. 6. List three cardinal rules of bookkeeping: a. Use good penmanship, so that the records are clearly legible. b. Keep columns of Fgures straight and write well-formed Fgures. c. Carry decimal points correctly. 7. List two disadvantages of a single entry system: a. Provides only simple summaries . b. Errors are di±cult to locate and no built-in controls. 8. List seven expense categories o²en found in a physician’s o±ce budget: a. Insurance . b. Loan payments. c. AdverTsing and promoTons. d. Legal and accounTng. e. Supplies. f. Salaries and wages. g. ³axes...
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- Spring '15
- Debits And Credits, Expense, Double-entry bookkeeping system, manual disbursement journal