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Question
State any one advantage of maintaining a journal using an electronic spreadsheet instead of preparing it manually.
Solution
One significant advantage is accuracy and error reduction. Electronic spreadsheets, like Microsoft Excel, offer built-in calculation tools that automatically perform computations. This reduces the chances of human error in arithmetic operations, ensuring more accurate financial records and data entries. Additionally, spreadsheets can easily be updated or corrected, which helps maintain more reliable and consistent financial records over time.
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