Determine the difference between a single$-$entry and double$-$entry bookkeeping system.

A single$-$entry bookkeeping system is simple to use, whereas a double$-$entry systern requires a trained bookkeeper or accountant.

A single$-$entry bookkeeping system facilitates cross$-$checking to detect errors, whereas a double$-$entry system has limited methods for preventing error.

A single$-$entry bookkeeping system is generally used in larger institutions, whereas a double$-$entry system is used in individual practices.

A single$-$entry bookkeeping systern balances asset records against liability records, whereas a double$-$ entry system requires a daily journal, check register, and account ledger.