I've always heard about a single exit-point function as a bad way to code because you lose readability and efficiency. I've never heard anybody argue the other side.
I thought this had something to do with CS but this question was shot down at cstheory stackexchange.
In my view, the advice to exit a function (or other control structure) at only one point often is oversold. Two reasons typically are given to exit at only one point:
The second reason is subtle and has some merit, especially if the function returns a large data structure. However, I wouldn't worry about it too much, except ...
If a student, you want to earn top marks in your class. Do what the instructor prefers. He probably has a good reason from his perspective; so, at the very least, you'll learn his perspective. This has value in itself.
Good luck.
There are different schools of thought, and it largely comes down to personal preference.
One is that it is less confusing if there is only a single exit point - you have a single path through the method and you know where to look for the exit. On the minus side if you use indentation to represent nesting, your code ends up massively indented to the right, and it becomes very difficult to follow all the nested scopes.
Another is that you can check preconditions and exit early at the start of a method, so that you know in the body of the method that certain conditions are true, without the entire body of the method being indented 5 miles off to the right. This usually minimises the number of scopes you have to worry about, which makes code much easier to follow.
A third is that you can exit anywhere you please. This used to be more confusing in the old days, but now that we have syntax-colouring editors and compilers that detect unreachable code, it's a lot easier to deal with.
I'm squarely in the middle camp. Enforcing a single exit point is a pointless or even counterproductive restriction IMHO, while exiting at random all over a method can sometimes lead to messy difficult to follow logic, where it becomes difficult to see if a given bit of code will or won't be executed. But "gating" your method makes it possible to significantly simplify the body of the method.
Single entry and exit point was original concept of structured programming vs step by step Spaghetti Coding. There is a belief that multiple exit-point functions require more code since you have to do proper clean up of memory spaces allocated for variables. Consider a scenario where function allocates variables (resources) and getting out of the function early and without proper clean up would result in resource leaks. In addition, constructing clean-up before every exit would create a lot of redundant code.
My general recommendation is that return statements should, when practical, either be located before the first code that has any side-effects, or after the last code that has any side-effects. I would consider something like:
clearer than:
If a certain condition should prevent a function from doing anything, I prefer to early-return out of the function at a spot above the point where the function would do anything. Once the function has undertaken actions with side-effects, though, I prefer to return from the bottom, to make clear that all side-effects must be dealt with.
I used to be an advocate of single-exit style. My reasoning came mostly from pain...
Single-exit is easier to debug.
Given the techniques and tools we have today, this is a far less reasonable position to take as unit tests and logging can make single-exit unnecessary. That said, when you need to watch code execute in a debugger, it was much harder to understand and work with code containing multiple exit points.
This became especially true when you needed to interject assignments in order to examine state (replaced with watch expressions in modern debuggers). It was also too easy to alter the control flow in ways that hid the problem or broke the execution altogether.
Single-exit methods were easier to step through in the debugger, and easier to tease apart without breaking the logic.
The answer is very context dependent. If you are making a GUI and have a function which initialises API's and opens windows at the start of your main it will be full of calls which may throw errors, each of which would cause the instance of the program to close. If you used nested IF statements and indent your code could quickly become very skewed to the right. Returning on an error at each stage might be better and actually more readable while being just as easy to debug with a few flags in the code.
If, however, you are testing different conditions and returning different values depending on the results in your method it may be much better practice to have a single exit point. I used to work on image processing scripts in MATLAB which could get very large. Multiple exit points could make the code extremely hard to follow. Switch statements were much more appropriate.
The best thing to do would be to learn as you go. If you are writing code for something try finding other people's code and seeing how they implement it. Decide which bits you like and which bits you don't.