Do you think that financial accounting system is suitable for all businesses?
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Answer yes i think this is compulsory for all the organisations but instead of NGO's which were do non-economic activities which do not undertaken for earning profit like social work , sentiments etc.
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Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
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