Question

What is accountancy? ​

Answer 1

Accounting is the system of recording financial transactions with both numbers and text in the form of financial statements. It provides an essential tool for billing customers, keeping track of assets and liabilities (debts), determining profitability, and tracking the flow of cash.

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Answer 2

Accountancy in a few words is everything which involves money. Incoming of money and outgoing of money and how to maintain records of the same is called Accountancy