Question

character of accountey class 11​

Answer 1

Explanation:

(i) Accounting records transactions and events which are of financial nature . (ii) accounting is an act. (iii) it involves following activities, recording, classifying and summarizing. (iv) Accounting helps in determining the financial position of an enterprise with of balance sheet.

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Answer 2

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Characteristics of accounting :

(i) Accounting records transactions and events which are of financial nature.

(ii) Accounting is an act.

(iii) It involves following activities, recording, classifying and summarizing.

(iv) Accounting helps in determining the financial position of an enterprise with of balance sheet.

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