Question

the basic foundation of financial accounting is to interept financial data none oof these assist management record all business transaction

Answer 1

Answer:

Financial accounting refers to collecting, summarizing and presentation of the financial information resulting from business transactions. It reports the operating profit and the value of the business to the stakeholders.

Answer 2

Answer:

The prime function of accounting is to interpret all such business transaction. It plays an important role in providing appropriate information to the business for decision making.

Explanation:

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