Give the four reasons of the popularity of double entry system.
Dear Student, 1.Double-entry refers to an accounting concept whereby assets = liabilities + owners' equity. 2. In the double-entry system, transactions are recorded in terms of debits and credits. 3. Double-entry bookkeeping was developed in the mercantile period of Europe to help rationalize commercial transactions and make trade more efficient. 4. The emergence of double-entry has been linked to the birth of capitalism. Regards