Accountancy, asked by mair, 7 months ago

fill in the blank
word used for not showing the actual position in the financial statement is _

Answers

Answered by skyfall63

Explanation:

Although accounting give us a systematic picture of our business transaction and events, it has some limitations also. One such limitation is that accounting can lead to "window dressing".
The word window dressing implies account deception, such that crucial details are concealed & financial statements are presented in a manner that indicates a better position than they really are.
In this case, the profit & loss report does not provide a truthful and realistic evaluation of the performance of the operations & the balance sheet does not have an accurate & fair analysis of the company's financial situation.

To know more

explain in brief any four limitations of accounting. - Brainly.in

https://brainly.in/question/2816851

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