1.

What are the objectives of double entry system

Answer»

Followings are the objectives of double entry system :-


1. Keep the complete SYSTEMATICALLY and SCIENTIFICALLY records of every financial

transaction .

2. To ascertain the profit or loss.

3. PROVIDE the financial INFORMATION of the business.

4. Provide the financial information of the business.

5. Check the ARITHMETICALLY accuracy of recording financial transaction.



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