Question

explain the advantages and limitations of accounting.​

Answer 1

Answer:

Some of the advantages of accounting are Maintenance of business records, Preparation of financial statements, Comparison of results, Decision making, Evidence in legal matters, Provides information to related parties......

Answer 2

Accounting is a mixture of art and science. Accounting is an art of recording, classifying and summarizing financial transactions in a significant manner and in terms of money

Advantages :-

• Maintenance of business records

• Preparation of financial statements

• Comparison of results

• Decision making

• Evidence in legal matters

• Provides information to related parties

• Helps in taxation matters

• Valuation of business

• Replacement of memory

hope it helps u ! :-)