Question

what is the limitation of accounting in mcq ​

Answer 1

Answer:

which of the following most closely defines Amortization

Answer 2

The limitation of accounting is :

1. It never shows the market value of assets.
2. It gives unrealistic information.
3. It ignores the qualitative elements.
4. It ignores effect of price level changes.
5. Depends upon personal judgments.
6. It gives historical facts not current worth.
7. It is based upon estimations.
8. It is not fully exact.
9. It only measures the monetary value and ignores those which do not have monetary value.
10. Some accounting can be manipulated.