Question

What are the terminologies used in Mahajani Bahi khata system? Exmpain them.

Answer 1

Answer:

The three objective of accountancy are:

To write the monetary transactions of all business dealings financially.

Classification of transactions and presenting them in a summarised way.

To analyse and decide profit and loss.

Answer 2

Answer:

What are the terminologies used in Mahajani Bahi khata system? Exmpain them.⬇️

...⬇️

Answer:

Personal account.

Material cost accounts, and.

Profit/Loss accounts. Also, to know profit/loss and financial status, final accounts are made.

[I hope help ✌️