Discuss the objectives of accounting
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Explanation:
Objective of Accounting
The following are the main objectives of accounting:-
To keep Systematic Records
The main objective of accounting is to keep a systematic record of financial transactions which helps the users to understand the day to day transactions in a systematic manner so as to gain knowledge about overall business.
To Protect Business Properties
Accounting provides protection to business properties from unjustified and unwarranted use. Information about the above matters helps the proprietor in assuring that the funds of the business are not necessarily kept idle or underutilized.
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