CBSE Class 11-commerce Answered
What is accounts
Asked by Vaibhavrawal4321 | 18 Dec, 2019, 10:22: PM
Expert Answer
Accountancy subject refers to the entire body of the theory and practice of accounting. It is a systematic knowledge of accounting which helps to deal with various aspects of accounting. In addition to this, it educates the users on how to maintain the books of accounts and to summarise the accounting information that is to be communicated to the users.
It comprises the study and understanding of various terms and concepts used in Accountancy where, an Account is a record of both cash and credit transactions maintained under a particular head which shows the transactions and the effect of such transactions in the books of accounts.
Answered by Surabhi Gawade | 19 Dec, 2019, 09:15: AM
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