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WHAT IS THE MEANING OF ACCOUNTING

Answer Posted / 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.

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