The functions of the accounting is not to:
A. Record the transactions of the business
B. Record the personal transactions of the
businessman
C. Ascertain the profit and loss of the
business
D. Ascertain the financial position of the
business
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Answer:
B. Record the personal transactions of the business man.
Explanation:
it only records the amount withdrawn by the business for the personal use from the business. that is recorded as DRAWINGS. but his personal transactions are not recorded in accounting.b
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