Question

CHAPTER-I: INTRODUCTION TO ACCOUNTING
1 "Accounting records, transactions and events can be measured in money terms Is this in your
opinion, a limitation of accounting or an advantage? Support your views with reasons.
DAV BOARD
2016
2. Which type of accounting information reveals profitearned or loss incurred?
3. Who are the users of accounting? What are their needs?
DAV BOARD 2017
4. Accounting provides information about the profitability and financial soundness of a concern In
addition, it provides various valuable information also, however accounting has certain
limitations. Explain any such of three limitations.
DAV BOARD 2015​

Answer 1

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Explanation:

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