Question

Where The Financial Accounting Fails The Cost Accounting For Is Rescue But Still There Are Some Limitations Deficiencies In The System?

Answer 1

Answer:

9 limitations of accounting are;

1.Recording only monetary items.

2.Time value of money.

3.Recommendation of alternative methods.

4.Restrain of accounting principles.

5.Recording of past events.

6.Allocation of the problem.

7.Maintaining secrecy.

8.The tendency for secret reserves.

9.Importance of form over substance.

I hope it helps you to understand.