Question

System of accounting ?​

Answer 1

Answer:

An accounting system is the system used to manage the income, expenses, and other financial activities of a business.

An accounting system allows a business to keep track of all types of financial transactions, including purchases (expenses), sales (invoices and income), liabilities (funding, accounts payable), etc. and is capable of generating comprehensive statistical reports that provide management or interested parties with a clear set of data to aid in the decision-making process.

Answer 2

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sʏsᴛᴇᴍs ᴏғ ᴀᴄᴄᴏᴜɴᴛɪɴɢʀᴇғᴇʀ ᴛᴏ ᴛʜᴇ ᴛᴡᴏ sʏsᴛᴇᴍsᴏғ ʀᴇᴄᴏʀᴅɪɴɢ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ɪɴ ᴛʜᴇ ʙᴏᴏᴋs ᴏғ ᴀᴄᴄᴏᴜɴᴛs. ᴛʜᴇsᴇ ᴛᴡᴏ sʏsᴛᴇᴍs ᴀʀᴇ ᴛʜᴇ sɪɴɢʟᴇ ᴇɴᴛʀʏsʏsᴛᴇᴍ ᴀɴᴅ ᴛʜᴇ ᴅᴏᴜʙʟᴇ ᴏʀ ᴅᴜᴀʟ ᴇɴᴛʀʏsʏsᴛᴇᴍ.