Question

which of the following is not a limitation of accounting
a) based on accounting convention
b) evidence in legal matters
c) incomplete information
d) omission of dulitative information
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Answer 1

Answer:

b ) evidence in legal matters

Answer 2

b) Evidence in legal matters

• From the organization's administration to the administration of different partners, monetary bookkeeping is exceptionally significant. The course of the board is incredibly reliant upon the budget summaries.

• These assertions give the executives a far-reaching thought regarding the organization's monetary status, its venture, position, and exchange. In any case, it is necessary to understand that there are limitations of financial accounting which don't uncover the genuine accounting report of the firm.

• Evidence in legal matters isn't the primary mode of evidence; notwithstanding it, there are various issues like the attitude of an observer, which the Court needs to think about while framing its decision.