Accounting plays a very important role in the field of business’. Do you agree with the statement? Give at least three reasons in support of your answer.
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Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
- It Helps in Evaluating the Performance of Business.
- It Ensures Statutory Compliance.
- It Helps to Create Budget and Future Projections.
- It Helps in Filing Financial Statements.
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