Question

financial accounting features??​

Answer 1

Answer:

monetary transaction and historical nature and legal requirement and external use and disclosure of financial status and financial accounting process

Answer 2

Answer:

These financial statements are basically of two types: First is Profitability Statement or Profit and Loss Account and second is Balance Sheet. Following are the characteristics features of Financial Accounting: 1) Monetary Transactions: In financial accounting only transactions in monetary terms are considered.