Question

In accounting all facts are recorded whether they are important or not.is it true or false

Answer 1

Answer:

True

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Answer 2

Yes it's absolutely true in accounting all facts are recorded whether they are important or not.

It's due to the following reasons :

- Recording all the details helps the accountant to track down the details about the financial expenses of any company.

- Keeping a track of all the details makes us aware about the financial losses.

- In an company if all the expenses are recorded then it's much easier to calculate the amount of profit.