Q: 1 What do you mean by Accounting? Explain its objectives.
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Book keeping is a part of accounting. Accounting is different from book-keeping. The objective of accounting is to maintain systematic record of financial transactions. The objective of book-keeping is to ascertain the net profit or loss and to show the financial position of the business.
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Answer:
Book keeping is a part of accounting. Accounting is different from book-keeping. The objective of accounting is to maintain systematic record of financial transactions. The objective of book-keeping is to ascertain the net profit or loss and to show the financial position of the business.
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