Question

write down meaning of accounting? write down two objectives of accounting​

Answer 1

Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof.

Objectives:

1. To provide useful information to various interested parties.
2. To provide useful information to various interested parties.To Maintain systematic and complete Records of Business Transactions

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Answer 2

Answer:

Accounting is the science of recording and classifying business transactions and events, primarily of a financial character and the art of making significant summaries, analysis and interpretations of these transactions and events and communicating results to persons who must take decisions or form judgement.”

Explanation:

Objectives of Accounting:

1. To maintain full and systematic records of business transactions

2. To ascertain profit or loss of the business

3. To depict financial position of the business

4. To provide accounting information to the interested parties