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CBSE Class 11-commerce Answered

Accounting is an art? true or false
Asked by Lashmibasra | 18 May, 2020, 04:10: PM
answered-by-expert Expert Answer
Meaning of Accounting:
  • According to American Institute of Certified Public Accountants, “Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting result thereof.
 
  • Accounting is an Art that records, classifies and summarises the financial transactions which helps in understanding the profitability and financial status of the business. It is also regarded as Science as it is follows a structured knowledge base that requires effective compliance of the basic accounting concepts and principles.
Answered by Surabhi Gawade | 18 May, 2020, 05:13: PM
CBSE 11-commerce - Accountancy
Asked by pradyumnaagrawal2957 | 10 Jun, 2021, 10:59: AM
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CBSE 11-commerce - Accountancy
Asked by kumarimanisha.9767 | 21 Jul, 2020, 10:32: AM
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CBSE 11-commerce - Accountancy
BRS
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Asked by tussharpoddar7 | 08 Jul, 2020, 11:30: PM
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CBSE 11-commerce - Accountancy
plz
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Asked by lovermahakal942004 | 08 Jul, 2020, 01:51: PM
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CBSE 11-commerce - Accountancy
Asked by agrawalgaurav441 | 12 Jun, 2020, 01:55: PM
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CBSE 11-commerce - Accountancy
Asked by boparaijaideep23 | 05 Jun, 2020, 11:07: AM
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CBSE 11-commerce - Accountancy
Asked by Lashmibasra | 18 May, 2020, 04:10: PM
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CBSE 11-commerce - Accountancy
Asked by himanshu2002tejas | 16 Apr, 2020, 11:16: PM
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