please give the answer of question number 4 and 5
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Ans no. 4 = limitations are
1) unsytemmatic & un scientific
2)More chance of fraud and errors
3)lack of arithemitical accuarcy
4)Does not reflect true profit &loss
5) Does not reflect any financial position
Ans no. 5= Rent paid - norminal A/c
Rent received - Norminal A/c
Rent accured- Real A/c
Machinery- Real A/c(tangible real
assets)
capital - personal A/c
purchase - Real A/c
1) unsytemmatic & un scientific
2)More chance of fraud and errors
3)lack of arithemitical accuarcy
4)Does not reflect true profit &loss
5) Does not reflect any financial position
Ans no. 5= Rent paid - norminal A/c
Rent received - Norminal A/c
Rent accured- Real A/c
Machinery- Real A/c(tangible real
assets)
capital - personal A/c
purchase - Real A/c
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