GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The direct advantages of accounting do not include
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Comparison of results
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Competitive advantage
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Information to interested groups
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Preparation of financial statements
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Explanation:
Detailed explanation-1: -Hence, it includes preparation of final accounts, ascertainment of profit or loss and its communication to users, but it does not includes any kind of competitive advantage.
Detailed explanation-2: -Costs involved in training staff to use system is not an advantage of introducing computerized accounting system. Training to use the system involves a huge cost which is a disadvantage of introducing computerized accounting system.
Detailed explanation-3: -Maintenance of business records. Preparation of financial statements. Comparison of results. Decision making. Evidence in legal matters. Provides information to related parties. Helps in taxation matters. Valuation of business. More items
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