8. Which of the following is objective of accounting? *
1 point
Maintaining records of business transaction
Ascertaining profit or loss of the business
Ascertaining the financial position of the firm
All of the above
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Answer:
Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the business.
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