Question

I what is Accounting?​

Answer 1

Answer:

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.

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Answer 2

Answer:

An account is a summarised record of the relevant transactions relating to a particular head. It records not only the amount of transactions, but also their effects and directions. For example, a cash account will show all of cash received and paid

Explanation:

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