Question

what is summarizing in accountancy?​

Answer 1

Answer:

Ledger accounts are balanced automatically when using a particular program developed for financial accounting purpose. Summarizing: The transactions, having been posted and classified in accordance with the concerning ledgers, are then summarized in a particular manner in order to prepare the following statements.

Answer 2

Explanation:

Definition. A financial or accounting summary sums up a company's financial activity for a specific period of time. . Summarizing business transactions can help a company make future plans regarding growth, sales and profit by looking back at what was achieved previously.

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