Accounting · Self Balancing Ledger
Which of the following statements is INCORRECT in relation to the Self-Balancing Ledger system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1This system is particularly useful where there is a limited or smaller number of customers or suppliers.✓
- 2If ledgers are maintained under this system, it becomes very easy to locate errors.
- 3The risk of fraud is minimized since different ledgers are maintained by different clerks.
- 4Various tasks can be completed quickly as this system allows division of work among different employees.
Correct answer
This system is particularly useful where there is a limited or smaller number of customers or suppliers.
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