Question

Accounting is not a modern concept and it is old as

Answer 1

Answer:

Accounting is not a modern concept and it is old as service

Answer 2

Accounting is an art of recording, classifying and summarizing the monetary business transactions. Accounting provides detailed information to the respective stake holders. Interested stake holders are creditors, lenders, customers, present and potential investors. Accounting is a language of business. Financial Statements provides the necessary business information to the management and other stake holders