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what are the limitations of accounting |
| Answer» Limitations of Accounting\tThe items expressed in monetary terms are recorded in the accountings where as the items which are non-monetary nature not recorded.\tSometimes accounting data are recorded on the basis of estimates and which could be inaccurate.\tfixed assets\xa0are recorded as the original cost.\tValue of money does not remain stable so accounting value does not show true financial results.\tAccounting can be manipulated and biased.\xa0 | |