GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the important objectives of accounting?
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Calculation of profit or loss
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Depiction of financial position
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To make information available to variousgroups and users
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All of the above
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Explanation:
Detailed explanation-1: -Providing information; Ascertainment pf profit and loss; Depiction of financial position. With all these objectives one can carry out all the accounting process very effectively.
Detailed explanation-2: -Explanation: The purpose of financial accounting is to provide financial information to shareholders.
Detailed explanation-3: -Objectives of Accounting Accounting is used to maintain a systematic record of all the financial transactions in a book of accounts. For this, all the transactions are recorded in chronological order in Journal and then posted to principle book i.e. Ledger.
There is 1 question to complete.