Question

Explain two advantages 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

Answer:

accounting helps in

1,Preparation of financial statements because of this u can know the position of your business (loss/profit)

2,it also helps in Comparison of results u can compare your previous year balance sheet with current year

3,helps in maintaining records