Commerce is know as the accounting so what is accounting

Q: What is concern of external users of accounting information in GAAP?

A: Accounting information includes all financial statements like Balance Sheet, Income statements and…

Q: Why is accounting a service activity and also a process or system?

A: Accounting is adopted by every business irrespective of its nature.

Q: What is the primary purpose of an accounting system?

A: the primary objective of accounting is to record the financial transactions in the books of…

Q: What is accounting? Also define its branches.

A: Every business, when it set up, has to know its plan of how it has to be carried on and what all…

Q: What is accounting own words

A: Introduction:- Accounting may be defined as the process of recording and summarizing business and…

Q: What are the process of accounting?

A: The question has covered the concept of the process of accounting.

Q: What are the objective of any accounting system?

A: The accounting information system is software in which inputs are added in the form of sales or…

Q: nciples of accounting

A: Principles of accounting are the rules and regulations that must be pursued by an organization when…

Q: How does accounting provide important data to a. Internal users b. External users

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: What are different types of accounting information?

A: Introduction: Accounting: Accounting is an art of recording, classifying , summarizing and…

Q: WHAT IS AN ACCOUNT TITLE?

A: An account title is a descriptive name or label given to an account to help identify and classify it…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: ng information?

A: Concept: Information contains in the financial statements is said as free from bias. It reflects a…

Q: Why are some accounting systems called double accounting systems?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What is business entity concept?

A: PLEASE GIVE A LIKE   .    It is a concept of accounting which refers to the transactions taking…

Q: Accounting concept and convention

A: Accounting concept is defined as the accounting assumptions which the accountant of a firm…

Q: How important is documentation when it comes to accounting?

A: Documentation are written record.

Q: What mean accounting information?

A: The basic concept of Accounting is to Record the transaction which was pertaining in the…

Q: Meaning and types of accounting

A: Introduction: Accounting is one in all the foremost important roles of a corporation. An accountant…

Q: What is the purpose of accounting?

A: Accounting is the process of recording the financial transactions and events of a business. The…

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: What is the key component of the definition of accounting

A: Accounting is a process of recording and reporting financial transactions or business transactions.…

Q: What is the purpose of the general ledger in the accounting process?

A: A general tally, occasionally known as the" GL," is a central account record used in account that…