Which of the following is not an advantage of accounting?
a) Facilitates performance comparisons.
b) Acts as reliable evidence.
c) Influenced by personal judgement
d) Replaces memory
Answers
Answer:
Which of the following is not an advantage of accounting?
a) Facilitates performance comparisons.
b) Acts as reliable evidence.
c) Influenced by personal judgement
d) Replaces memory
Explanation:
Advantages of Accounting:
Accounting helps to maintain the business records in a systematic manner. It helps in the preparation of financial statements. Accounting information is also used to compare the result of current year with the previous year to analyze the changes.
What are the 4 functions of accounting?
These are listed below;
5 Managerial Functions of Accounting. ...
Control of financial policy and formation of a planning. ...
Preparation of budget. ...
Cost control. ...
Evaluation of employees' performance. ...
Prevention of errors and frauds. ...
Seven Historical or Stewardship Functions of Accounting. ...
Recording of financial transactions.