Question

The function of Accounting is not to

Ascertain the profit or loss of business

Ascertain the financial position of the business

Record the transaction of business

Record the personal transaction of the proprietor

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Answer 1

Answer:

d) record the personal transaction of the proprietor.

Answer 2

The function of accounting is not to

D)Record the personal transaction of the proprietor.

Functions of accounting :-

• Recording transcation.
• Tracking funds.
• Analysing.
• Storing transaction.
• Sumarizing financial position of a business.
• To check profit or loss of a business or profession.
• To check final accounting statement.
• Preventing errors or frauds.
• Reporting company's financial transactions.
• Budget planning.

As all the above options are the functions of accounting, Record the personal transaction of the proprietor is not a function of accounting.