what is accounting

Answer Posted / guest

accounting is an art of recoding,classifying and
summarizing in a significantmanner and in terms of
money,transactions and events and interpretting the results
thereof.

Is This Answer Correct ?    19 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Tell me how can you explain the basic accounting equation?

626


'Talk me through an example of how you have used data to improve your teams productivity.'

2046


Explain me scrap value in accounting?

684


Explain in simple terms what is the difference between asset, equity, and liabilities?

625


What can be done incase of excess payment of TDS Remittence than the actual amount? Is there any adjustment towards the excess amount with the upcoming TDS payment? Reference of last quarter challan should be shown while adjusting in next quarter?

1094






WHAT IS ACCOUNTING HEAD FOR TRADE FINANCE? I HAVE PAID 49268 FOR TRADE FINANCE.WHERE SHOULD I TAKE IN TALLY

1542


Explain dual aspect term in accounting?

598


In the case of stock transfer from one branch to another branch any reverse credit is applicable.

1573


What is book profit? How it was calculated

5556


What do u mean by press releases

1612


Why do users of accounting information need accounting information?

602


How Can We Justify the,Real A/C & Nominal A/C?

1789


What is the equation for acid-test ratio in accounting?

647


pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.

1555


What is the networth percentage observe by banks

1588