CBSE Class 11-commerce Answered
Explain any 4 advantages of accounting.
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
Expert Answer
Following are the advantages of accounting:
- Financial performance, profit or loss incurred, during an accounting period and the financial condition at the end of the accounting period is clearly understandable through accounting.
- The management is able to make business plans and take decisions over the business affairs on the basis of accounting information.
- A systematic accounting record helps in settlement of income tax, sales tax, value added tax and excise duty liabilities because it is the evidence of the correctness of transactions.
- Banks and financial institutions grants loan on the basis of growth potential which is maintained by the performance. This accounting provided information about the performance.
Answered by | 07 Jun, 2016, 01:48: PM
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 07 Jun, 2016, 11:48: AM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 09 Jun, 2016, 12:59: PM
ANSWERED BY EXPERT