Question

What are the advantage of accounting? (any two)

Answer 1

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THE TWO ADVANTAGES OF ACCOUNTING ARE :

1) financial performance and position is known; and

2)assist management in making business plans, take decisions and exercise control.

Answer 2

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Accounting helps to maintain the business records in a systematic manner. It helps in the preparation of financial statements. Accounting information is also used to compare the result of current year with the previous year to analyze the changes.

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