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WHAT IS THE MEANING OF ACCOUNTING
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Answer / abhinav ratna
Accounting is art of recording classifing and summarising
of the financial records and interpreting the results
thereof. it provides the quantative information primarily
financial in nature about the economic entities activity.
| Is This Answer Correct ? | 14 Yes | 1 No |
Answer / abdul hassan
accounting is systematics and presentation and financiaql
activities of the business entrepreneur
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / arun chauhan
Accounting is the process of recording the transaction in a systematic and scientific manner only for those transactions which can me measured in terms of money
Systematic manner means within proper format as described by the accounting standard.
Scientific manner means if you are going to purchase a thing and it takes 1 hr for final transaction then you should record the transaction with final amt not the whole bargaining.
| Is This Answer Correct ? | 0 Yes | 0 No |
In a housing society accounting if a defaulter having dues consisting of principal amount and simple interest, pays a part amount whether the received amount should be adjusted first against the interest dues and accordingly reduce the balance principal dues or adjusted only against the principal amount, allowing outstanding simple interest to contineously increase/
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shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?
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22 Answers Capital IQ, Core Logic, FIC,
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Audit 
