Question

(1) Explain Deshi Nama system and double entry system
(2) Explain process of accounting
(3) Discuss characteristics of accounting
(4) Describe advantages of accounting
(5) What are the limitations of accounting?
(6) Who are the users of accounting information ?
(7) Explain the qualitative characteristics of accounting
(8) Explain the following terms:
(i) Capital and drawings
Capital receipts and revenue receipts
(ii) Payable and receivable
(iv) Debit and credit​

Answer 1

Answer:

• ) Explain Deshi Nama system and double entry system
• (2) Explain process of accounting
• (3) Discuss characteristics of accounting
• (4) Describe advantages of accounting
• (5) What are the limitations of accounting?
• (6) Who are the users of accounting information ?
• (7) Explain the qualitative characteristics of accounting
• (8) Explain the following terms:
• (i) Capital and drawings
• Capital receipts and revenue receipts
• (ii) Payable and receivable
• (iv) Debit and credit....