Write the objectives or advantages of accounting.

1.	Write the objectives or advantages of accounting.
Answer» The objectives or advantages of accounting are: • To maintain the record of financial transactions of a business accurately. • To ascertain the profit or loss made by business. • To present the true and fair view of financial position. • To know the amount due to creditors individually. • To know the amount due from debtors to the business. • To compute the tax liability of the concern. • To supply the required financial information to the mangement it helps for decision making.

Answer»

The objectives or advantages of accounting are:

• To maintain the record of financial transactions of a business accurately.

• To ascertain the profit or loss made by business.

• To present the true and fair view of financial position.

• To know the amount due to creditors individually.

• To know the amount due from debtors to the business.

• To compute the tax liability of the concern.

• To supply the required financial information to the mangement it helps for decision making.

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