Request a call back

Join NOW to get access to exclusive study material for best results

CBSE Class 11-commerce Answered

what is advantages of accounting  
Asked by kumarimanisha.9767 | 21 Jul, 2020, 10:32: AM
answered-by-expert Expert Answer

Following are the advantages of accounting:

  1. 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.
  2. The management is able to make business plans and take decisions over the business affairs on the basis of accounting information.
  3. 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.
  4. 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 | 25 Jul, 2020, 08:45: PM
CBSE 11-commerce - Accountancy
Asked by pradyumnaagrawal2957 | 10 Jun, 2021, 10:59: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by kumarimanisha.9767 | 21 Jul, 2020, 10:32: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
BRS
question image
Asked by tussharpoddar7 | 08 Jul, 2020, 11:30: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
plz
question image
Asked by lovermahakal942004 | 08 Jul, 2020, 01:51: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by agrawalgaurav441 | 12 Jun, 2020, 01:55: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by boparaijaideep23 | 05 Jun, 2020, 11:07: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by Lashmibasra | 18 May, 2020, 04:10: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy
Asked by himanshu2002tejas | 16 Apr, 2020, 11:16: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×