Question

Define accounting. What are its objectives?

Answer 1

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Answer:

Objectives of accounting in any business are; systematically record transactions, sort and analyzing them, prepare financial statements, assessing the financial position, and aid in decision making with financial data and information about the business.

Answer 2

Answer:

accounting is the art of recording,classifying and summarising transactions in a significant manner and interpreting the results and communicating it with the other interested parties.