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Define Accounting ? |
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Answer» Hey do you help me in accounts Accounting refers to collecting summarising analysing and reporting the information of business transactions in monatry terms monatry means money \tAccounting:\xa0Accounting is the art of recording, classifying,\xa0summarizing\xa0in a significant manner, transactions and events which are of financial character, and interpreting the results thereof.\xa0\tAccounting is used to maintain a systematic record of all the financial transactions in a book of accounts.\tFor this, all the transactions are recorded in chronological order in Journal and then posted to principle book i.e. Ledger. |
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