Question

Define accounting and explain its objectives and branches?

Answer 1

Accounting is the process of identifying,measuring,recording and communicating the required information relating to the economic events of an organisation to the interested users of such information.

The objectives of accounting are as follows:-

Maintenance of Records of Business Transactions:-

The primary objective of accounting is to maintain proper records of business transactions.In this way, it is used for the maintenance of a systematic record of all financial transactions in book of accounts.

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Answer 2

Answer:

Maintenance of Records of Business Transactions-The primary objective of accounting is to maintain proper records of business transactions.In this way, it is used for the maintenance of a systematic record of all financial transactions in book of accounts.A proper and complete record of all business transactions are ...