Accountancy, asked by pchinmayee35, 7 months ago

what are the major limitations of accounting​

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Answered by prasadyash796
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Limitations of Accounting

Measurability. One of the biggest limitations of accounting is that it cannot measure things/events that do not have a monetary value. ...

No Future Assesment. ...

Historical Costs. ...

Accounting Policies. ...

Estimates. ...

Verifiability. ...

  1. Errors and Frauds.
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