Question

define accounting explain the objectibe and limitation of account?​

Answer 1

To maintain full and systematic records of business transactions: ADVERTISEMENTS: Accounting is the language of business transactions. Given the limitations of human memory, the main objective of accounting is to maintain 'a full and systematic record of all business transactions.

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Answer 2

Explanation:

The new accounting system is important due to following reasons: It keeps a proper record of the financial transactions and provides financial data and information to the government at the time of necessity. It makes expenditures within the limitation of budget, which helps to control unnecessary expenses.