What Is Mean By Book-kipping?????
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Answer:
hey mate, it's not book kipping, it's actually book keeping.
Explanation:
its an activity of keeping records of financial affairs of a business.
if you need more knowledge about it please refer google
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Mate actually is book- keeping not kipping
BOOK- KEEPING : book keeping mean keeping the records of financial transactions in a systematic manner , it's branch of accountancy
What are the objectives of bookkeeping?
1. To find profit/loss - The major reason is to find profit or loss your business is making. Unless you keep a proper record of all your business transactions, it is not possible for you to find profit or loss that your business is making.
2. To determine your tax liability - Bookkeeping also helps in determining your tax liability. Your tax amount depends on the amount of profit or loss your business has done. And to determine the amount of your profit or loss bookkeeping is required. So bookkeeping is also required to determine your tax liability.
3. To check the progress of business - Bookkeeping is also required to check the progress of your business. To determine the progress of your business, you need to compare the current year's profit or loss with the previous year's profit or loss. Now, this is not possible unless you maintain a proper record of all your business transactions.
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