5 years ago in Basic Accounting

Accounting is defined as ?

[A] An art of recording,classifying and summarizing in a significant manner and in terms of money,transactions and events which are in part at least,of a financial character and interpreting the results thereof.
[B] A systematic and regular record of events clear financial picture
[C] A method of ascertaining profits & loss
[D] Noting but book keeping
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Lalchan Ali - 2 years ago

Accounting is a process of analysing, summarising, classification and recording all financial transactions and other related events and it's helps to the management for planning and decision making process.

vikram jadhav - 3 years ago

why not B and C

trupti sahoo
trupti sahoo - 4 weeks ago

trupti sahoo from Bhubaneswar, India is saying An art of recording,classifying and summarizing in a significant manner and in terms of money,transactions and events which are in part at least,of a financial character and interpreting the results thereof. is correct answer

aarthi gangadevi
aarthi gangadevi - 4 months ago

aarthi gangadevi is saying An art of recording,classifying and summarizing in a significant manner and in terms of money,transactions and events which are in part at least,of a financial character and interpreting the results thereof. is correct answer

Sourabh Guntur
Sourabh Guntur - 5 months ago

Sourabh Guntur from Malkajgiri, India is saying An art of recording,classifying and summarizing in a significant manner and in terms of money,transactions and events which are in part at least,of a financial character and interpreting the results thereof. is correct answer

Related Questions

Accounting is also defined as an 'Information System' because ?

  • [A] The function of accounting is to provide quantitative information,primarily financial in nature about economic entities
  • [B] It is a system which provides information
  • [C] Accounting provides required information for anyone seeking it
  • [D] All of above

Which of the following is not available in the Financial Statements of a Company ?

  • [A] Total Sales
  • [B] Total Profit and Loss
  • [C] Loss from Fire
  • [D] None of above