Q.6 Explain any three limitation of accounting
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The nine limitations of accounting are:
Recording only monetary items.
Time value of money.Recommendation of alternative methods.
Restrain of accounting principles.
Recording of past events.Allocation of problem.Maintaining secrecy.Tendency for secret reserves.Importance of form over substance
Recording only monetary items.
Time value of money.Recommendation of alternative methods.
Restrain of accounting principles.
Recording of past events.Allocation of problem.Maintaining secrecy.Tendency for secret reserves.Importance of form over substance
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