Question

Explain the Accounting Objectives, Necessity, limitations? 7mark ( pls the correct answer, now internal exam ) pls the answer ​

Answer 1

Answer:

The economic and commercial evolution of any land depends upon its physical environment. This

stands true for the Indian subcontinent as a whole which has Himalayas in the North bordered by

water in the South. A network of roads merging into the Silk Route helped in establishing commercial

and political contacts with adjoining foreign kingdoms and empires of Asia, in particular, and the

world, in general. The maritime routes linked the east and the west by sea and were used for the

trade of spices and known as ‘spice route’. Due to the flow of wealth through these routes, the chief

kingdoms, important trade centres and the industrial belt flourished, which in turn further facilitated

the progress of domestic and international trade in ancient India. Trade and commerce have played a

vital role in making India to envolve as a major actor in the economic world in ancient times.

Archaeological evidences have shown that trade and commerce was the mainstay of the economy of

ancient India carried out by water and land. Commercial cities like Harappa and Mohenjodaro were

founded in the third millennium B.C. The civilisation had established commercial connections with

Mesopotamia and traded in gold, silver, copper, coloured gemstones, beads, pearls, sea shells,

terracotta pots, et