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What is the difference between Finance and Accouts?
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Answer Posted / prem sagar
finance starts when account part ends, accounting part
includes clerical work where as financial part includes fund
management and decision making etc..
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Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
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