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प्रश्न
______ is the language of business.
पर्याय
Accounting
Book keeping
Book maintaining
Book recording
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उत्तर
Accounting is the language of business.
Explanation:
Accounting is often referred to as the language of business. Through accounting, businesses communicate their financial performance, position, and cash flows to stakeholders, including investors, creditors, management, and regulators. Accounting provides the necessary information for decision-making and helps understand an organization's financial health.
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संबंधित प्रश्न
Justify the following:
Every transaction is recorded in at least three accounts.
Explain the need for GAAP for accounting.
According to this concept, a business firm is treated as a unit separate and distinct from its owners.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
According to this principle, revenue is deemed to be realised when the goods have been transferred or the services have been rendered to a customer.
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
Every transaction has two effects. (with reference to the concept of Accounting). Give a reason either for or against.
Write short note on the going concern concept.
Why are Generally Accepted Accounting Principles (GAAP) needed?
