Which of the following is a benefit of cloud accounting?

In cloud accounting, increased flexibility is one of the primary benefits that organizations experience. This flexibility allows businesses to access their financial data and accounting tools from anywhere with an internet connection, which is particularly advantageous in today's remote and hybrid work environments. Users can collaborate in real-time, ensuring that teams can work on the same data simultaneously, no matter their location. Additionally, cloud accounting systems can easily adapt to the needs of a growing business, allowing for scalability in terms of users and features without the need for extensive hardware updates.

The nature of cloud services allows for continuous updates and improvements, meaning businesses can leverage the latest technologies and features without downtime associated with traditional software installations. This level of flexibility promotes efficiency by enabling organizations to streamline workflows and respond quickly to changes in business conditions.

Other options such as high maintenance costs, reduced collaboration, and limited data sharing do not reflect the advantages of cloud accounting. In fact, cloud accounting typically results in lower maintenance costs due to the provider handling updates and support, enhanced collaboration through shared access among teams, and improved data sharing capabilities through secure, cloud-based platforms.