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Question
What is accounting?
Short Answer
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Solution
Accounting is an 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 the results thereof.
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Meaning and Purposes of Accounting
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RELATED QUESTIONS
______ is the art and science of recording transactions while ______ is the art and science of recording, classifying and summarising transactions.
The purposes of financial recording is ______.
Which of these is not a purpose of financial recordings?
Explain the purpose of financial recording.
