Question

Define accounting?.
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Answer 1

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.

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Answer 2

Your Solution:

The definition of accounting is the process of systematically recording and managing financial accounts.

Accounting may be defined as the collection, compilation and systematic recording of business transactions in terms of money, the preparation of financial reports, the analysis and interpretation of these reports and the use of these reports for the information and guidance of management

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